In September 2025, BNP Paribas CEO Jean-Laurent Bonnafé led a delegation to Nanjing. The primary objective was signing a strategic cooperation memorandum with Bank of Nanjing (BoN). The meeting was attended by Nanjing Party Secretary Zhou Hongbo, alongside BoN Chairman Xie Ning and President Zhu Gang.
Jiangsu provincial authorities demonstrated strong support for BNP Paribas' involvement. Governor Xu Kunlin personally welcomed Bonnafé's delegation, briefing them on Jiangsu's economic and social development progress.
As BoN's shareholder and strategic partner since 2005, BNP Paribas has maintained this relationship for two decades. The newly signed memorandum outlines comprehensive cooperation across six dimensions: capital, credit, business, customer base, technology, and intellectual resources.
The influential foreign shareholder's participation significantly enhances BoN's business expansion capabilities and international competitiveness. BNP Paribas has demonstrated substantial commitment through concrete actions.
Recent disclosures show BNP Paribas (QFII) increased its BoN holdings by 128 million shares (1.04% of total equity) between September 29 and November 20, 2025, using proprietary funds. This brings BNP Paribas' combined stake (direct + QFII) to 18.06%, up from 17.02%.
This marks BNP Paribas' second major share acquisition in 2025, following a 108 million share purchase via block trading in September. Other major shareholders including Jiangsu Communications Holding, Nanjing Zijin Investment Group, Nanjing High-Tech, and Eastern Airport Group Investment have also increased positions.
Shareholders holding over 1% (excluding Hong Kong Securities Clearing) collectively acquired 1.034 billion shares through secondary markets or convertible bond conversions during Q1-Q3 2025, representing 8.37% of BoN's Q3-end total shares. At current valuations, these acquisitions exceed RMB 10 billion.
BoN continues strengthening its financial position, reporting total assets of RMB 2.9623 trillion as of Q3 2025 - nearing the critical RMB 3 trillion threshold. Key capital initiatives include regulatory approval for registered capital increase from RMB 10.007 billion to RMB 12.3635 billion through convertible bond conversions, with subsequent industrial/commercial registration updates pending.
The bank successfully issued RMB 10 billion in 3-year fixed-rate financial bonds (Series II 2025) via China's interbank bond market, carrying a 1.80% coupon rate. Proceeds will optimize medium-to-long term asset-liability matching and support corresponding business development.
Additionally, BoN exercised redemption rights for RMB 4.9 billion preference shares originally issued on December 23, 2015.
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