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BNP Paribas will not bid for Societe Generale

BNP Paribas has clarified that it has ceased to consider a potential tie up with Societe Generale.

BNP Paribas believes that the conditions, which would have allowed it to realize a shareholder value creating merger, are not met.

In the current environment, BNP Paribas’ priority is to recognize and play to its strengths including stringent risk management, solid financial structure, commercial efficiency, diversification of revenue sources.

The group claims that it is well-positioned to continue its development by combining its expertise in retail banking, corporate and investment banking and asset management and services.