BNP Paribas Exits Commodities Finance Business in the US
- French bank sells book of US loans to Mitsubishi UFJ Financial
- Sale of loan portfolio is expected to close in 3 to 6 months
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BNP Paribas SA is exiting its commodities finance business in the US, following earlier retreats in other parts of the world.
“The decision taken to exit this business was consistent with our approach in EMEA,” the bank said in a statement in response to questions. “The impact is limited, and BNP Paribas remains deeply committed to the US and Americas” as well as its energy and renewables clients, it said.