1140 GMT - BNP Paribas is set to be a big beneficiary from a more integrated European banking sector, Jefferies says in a research note. The French bank's repositioning through recent deals in asset management in France and private banking in Germany should drive growth in the next few years while consuming minimal capital, analyst Joseph Dickerson and associate Theo Massing write. There is scope for BNP to play a key part in the European private banking consolidation, they say. Recent elevated volatility should also be good for its strong corporate and investment bank franchise, they add. "We believe that the market is not valuing better [return on tangible equity] prospects and the synergies afforded by asset gathering businesses and the fact that bank is well positioned for stronger European capital markets," they add. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 11, 2025 07:40 ET (11:40 GMT)
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