Johannesburg - The South African Reserve Bank has granted BNP Paribas permission to set up a full branch, the French bank said on Thursday, allowing it to extend corporate and investment banking services in Africa's most advanced capital market.
BNP Paribas currently has a representative office in Johannesburg and said in a statement it will convert that into a full commercial bank.
The move also comes after BNP Paribas recently completed $22m deal that gave it 60% of the stockbroking arm of domestic financial services group Cadiz Holdings [JSE:CDZ].
BNP Paribas currently has a representative office in Johannesburg and said in a statement it will convert that into a full commercial bank.
The move also comes after BNP Paribas recently completed $22m deal that gave it 60% of the stockbroking arm of domestic financial services group Cadiz Holdings [JSE:CDZ].