The acquisition would have a limited impact on BNP Paribas’ financial profile while it would double the size of the group’s already successful retail banking operations in California, providing opportunities for significant cost cutting and synergies. The negative impact on BNP Paribas’ capital base should be contained. Despite the $2.4 billion cash price and expected goodwill of EUR1.5 billion, BNP Paribas is expected to restore its Tier 1 Bank for International Settlements ratio to above its 7% medium-term target by mid-year 2002. UCB has a sound financial profile, characterized by strong capitalization and asset quality, as well as good and stable profitability. The acquisition is subject to the appropriate regulatory approvals.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.