En France, Vivre Les Financements Maritimes

C’est Pret and C’est Bon

Traditionally, the shipping departments of French banks have been small beer – or should that be vin rouge petite – in terms of maritime finance and mortgage lending. But with bond markets dry and owners still in a wait-and-see mode, many of the small but intelligent coterie of French commercial and investment banks are re-grouping with an eye toward market expansion.

The first moves are being made by Banque Nationale de Paris (BNP) which currently has a commercial marine portfolio of approximately US$1bn. The megabank’s relatively insignificant shipping department has an established presence in Greece and Hong Kong, but rumors that it “may be contemplating an expansion” were confirmed by BNP’s Paris-based shipping department. The bank is undergoing a reorganization to support overall growth that may include new shipping branches in places as far away as New York and Ho Chi Min City.

“BNP has operations in every corner of the world, but finding where there would be a good fit for ship-lending operations in terms of personnel and client base is something that is currently being reviewed,” Didier Salomon at BNP’s Paris headquarters said.

This is only an excerpt of En France, Vivre Les Financements Maritimes

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