BNP Paribas eyes trade finance growth

BNP Paribas’s Pierre Veyres talks about how burgeoning trade flows, growing competition and renminbi reforms are making life interesting for trade finance banks.
Pierre Veyres, BNP Paribas
Pierre Veyres, BNP Paribas

Trade finance has rarely enjoyed such a high profile among transaction banks in Asia-Pacific. Rapid economic growth, dynamic trade routes, tightening liquidity in markets like China, and the poor economic performances of many developed economies have placed the region’s trade story on the map.

For Pierre Veyres, BNP Paribas’s global head of global transaction banking, his location in Singapore is testament to the importance of the Asia-Pacific business to the bank’s overall operations. “Of the top Fortune 500 MNC multinational corporation names, Asia-Pacific contributes around 20% of their business for most of these companies in terms of revenues, and that is increasing much faster than anywhere else,” he said. Moreover,...

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