BNP Paribas SA announced Monday that it has agreed to acquire HSBC’s private banking unit in Germany as part of its strategy to expand its wealth management operations in a key European market. The French financial giant views Germany as offering “strong growth potential,” particularly within the small and midsized business (SME) sector, known as the Mittelstand.
BNP To Buy HSBC Unit : Deal Overview and Strategic Goals
The transaction, expected to close in the second half of 2025 pending regulatory approval, will significantly bolster BNP Paribas’ wealth management presence in Germany. While the financial terms of the deal and the nature of the required regulatory approvals were not disclosed, BNP Paribas anticipates that the acquisition will enhance its position among Germany’s top wealth management players.
Vincent Lecomte, CEO of BNP Paribas Wealth Management, said in a statement that the deal will raise the bank’s assets under management in Germany to over €40 billion ($44.4 billion). He emphasized that BNP Paribas’ integrated business model is tailored to the long-term needs of entrepreneurial clients, offering a mix of personal and corporate financial services.
