BNP Paribas Personal Finance – Bulgaria branch targets the consumer credit segment


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SOFIA (Bulgaria), Jan. 11 (SeeNews) – BNP Paribas Personal Finance – newly created Bulgaria branch, part of French bank BNP Paribas Personal Finance, plans to position itself among the top 10 banks in Bulgaria in terms of share of consumer loan segment market, local media reported.

Acting as a bank, BNP Paribas Personal Finance – Bulgaria branch will retain the range of products offered so far in Bulgaria by the non-bank financial institution BNP Paribas Personal Finance EAD, as well as the working conditions and procedures, capital of the Sofia-based media .bg reported on Wednesday.

The new bank will not offer home loans or accept deposits in line with the business strategy of its French parent company.

On January 5, the non-bank financial institution BNP Paribas Personal Finance EAD, which is part of the French group BNP Paribas Personal Finance SA, announced its intention to restructure as a bank from February 1.

At this stage, the transformation of the company is mainly linked to the legal restructuring of the existing subsidiary in Bulgaria, added capital.bg.

The commercial strategy does not envisage a merger with the local branch of the French bank BNP Paribas – BNP Paribas SA, Sofia branch, which serves companies and institutional clients. BNP Paribas Personal Finance – Bulgaria branch and BNP Paribas SA, Sofia branch focus on two different segments and will operate separately, capital.bg said on Wednesday, citing Bruno Leroux, CEO of BNP Paribas Personal Finance for Bulgaria and Romania.

Twenty-two banks and five branches of foreign banks operate in Bulgaria.

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