Senior BNP Paribas executives are to tour the Middle East in coming days in a bid to raise fresh capital and shore up confidence in France’s biggest bank.
According to people close to the group, Baudoin Prot, chief executive, is adamant that he has sufficient reserves of both capital and liquidity. But he recognises that market jitters could worsen if nothing is done.
At the same time, BNP executives have urged regulators to carry out an emergency stress test in an effort to pinpoint exactly where the weaknesses are in the French banking system. That could lead to some kind of orchestrated injection of state funds, bankers say.
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