We Found The One Big Bank Pushing For Growth As Rivals Shrink

Champagne Jean Scheijen

Yep, there's one.

French bank BNP Paribas is confident it can profit from rivals' distress after a year of cutting assets and staff to meet tougher regulations, its head of corporate and investment banking said.

Reuters reports that at a time when lenders such as Deutsche Bank, Royal Bank of Scotland and UBS are still slashing jobs and overhauling business models to adapt to costly Basel III rules that crack down on risk-taking, BNP is moving its focus to growth, he said on Wednesday.

'We have turned the page from the past year's efforts to cut debt', Alain Papiasse told reporters at a media event. 'For our rivals, who are forced to take action to boost profitability, however ... there are three more years of deleveraging ahead'.

Hit the link below to access the complete Reuters article:

BNP Paribas to grow as rivals shrink: executive

In the meantime, the news agency reports that there may be room for only a handful of firms at the top table of investment banking as the industry reshapes, leaving bosses scrambling to keep their seat and influence at the same time as they need to shrink.

Even the biggest global players have been cutting costs heavily in the face of a changing regulatory landscape that has caused a shift widely viewed as structural, rather than cyclical.

'By the time we are finished with the unintended consequences of regulation, my feeling is we will have five to six (global) banks remaining', Anshu Jain, Deutsche Bank's chief executive, said on Wednesday.

Hit the link below to access the complete Reuters article:

Bank chiefs face scramble to stay at the top table

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