New rumours were swirling in late 2021 of BNP Paribas selling US retail franchise, Bank of the West. That, in turn, raises new questions of what BNPP could do with capital above its target as it seeks to erase a stubborn discount to book value, despite the last year’s share-price rebound.
Will it go on share buy backs? Or could it deploy that capital towards growth in Europe?
Eurozone policy rates suddenly look like they might not be negative for as long as they did.
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