European Banks Continue To Embrace Significant Risk Transfers
May 29, 2025 -… . €) ABN AMRO 0 0 AIB 0 819 Banco BPM 6,981 7,743 Banco Comercial Português 5,202 5,422 Bank of Ireland 5,069 4,646 Bankinter 394 225 Barclays 60,326 58,979 BBVA 4,021 9,587 Belfius 0 0 BNP Paribas 42,799 47,211 BPCE 3,019 2,109 CaixaBank 1,208 2,583 Commerzbank 13,037 11,428 Crédit Agricole Group 14,134 12,356 Crédit Mutuel 0 288 Danske Bank 0 0 Deutsche Bank 27,523 33,811 DNB Bank 0 1,443 DZ Bank 0 0 Erste 1,318 4,597 Handesbanken 0 0 HSBC 9,752 12,484 ING 4,845 3,064 Intesa Sanpaolo 26,546 29,430 KBC 0 0 Lloyds 14,551 17,132 NatWest 2,645 10,760 Nordea 14,537 22,052 Nykredit 0 0 Rabobank 525 1,083 Raiffeisen Bank International 12,692 12,150 Sabadell 3,023 4,013 Santander 47,490 73,537 SEB 0 0 Société Générale 17,737 16,301 Standard Chartered 14,788 14,696 Swedbank 0 0 UBS 35,053 18,516 UniCredit 12,865 22,827 Zürcher Kantonalbank 0 0 Total 402,079 461,293 Non-EUR figures converted to EUR at the relevant exchange rate. …
European 'AAAm' Money Market Fund Trends (First-Quarter 2025)
May 7, 2025 -… . €) --Portfolio maturity (days)-- Portfolio credit quality (%) WAM (R) WAM (F) A-1+ AAAm Institutional Cash Series plc - BlackRock ICS Euro Liquidity Fund 85,426 45 66 61 AAAm BNP Paribas InstiCash EUR 1D LVNAV 31,982 45 79 59 AAAm JPMorgan Liquidity Funds - EUR Liquidity LVNAV Fund 30,265 42 62 66 AAAm Goldman Sachs Funds, plc - Goldman Sachs Euro Liquid Reserves Fund 23,280 43 52 56 AAAm HSBC Global Liquidity Funds plc - HSBC Euro ESG Liquidity Fund 22,822 28 75 55 AAAm DWS Deutsche Global Liquidity Series PLC - Deutsche Managed Euro Fund 20,417 30 44 51 AAAm MS Liquidity Funds – Euro Government Liquidity Fund 18,548 37 55 58 AAAm State Street Liquidity plc - State Street EUR Liquidity LVNAV Fund 8,317 35 53 61 AAAm Fidelity Institutional Liquidity Fund PLC - The Euro Fund 6,967 31 55 62 AAAm Institutional Cash Series plc - BlackRock ICS Euro Government Liquidity Fund 4,815 25 25 100 WAM (R)--Weighted average maturity to reset. …
European CMBS Monitor Q1 2025
Apr 30, 2025 -… . £) Arranger No. of loans No. of properties Sponsor Property type Jurisdiction Article Sequoia Logistics 2025-1 DAC 428.8§ Barclays 1 53 Blackstone Logistics France, The Netherlands, Finland, Germany Presale: Sequoia Logistics 2025-1 DAC Pembroke Property Finance 3 DAC 277.6§ BNP Paribas, HSBC 109 233 Various Mixed Ireland Presale: Pembroke Property Finance 3 DAC Taurus 2025-1 EU DAC* 212.3§ Bank of America 1 37 Carlyle Logistics Germany, France Taurus 2025-2 U.K. …
Global Financing Conditions: Peak Uncertainty Leaves A Range Of Projections For Issuance
Apr 28, 2025 -… . € EFSF Luxembourg Financial Institutions 12 Credit Agricole SA France Banks & Brokers 11 HSBC Holdings PLC United Kingdom Banks & Brokers 9.6 BNP Paribas SA France Banks & Brokers 8.5 Barclays PLC United Kingdom Banks & Brokers 8.4 Rio Tinto Finance (USA) PLC United Kingdom Banks & Brokers 8.2 BPCE SA France Banks & Brokers 7.7 ABN AMRO Bank NV Netherlands Banks & Brokers 6.8 Nationwide Building Society United Kingdom Banks & Brokers 6.4 ING Groep NV Netherlands Banks & Brokers 5.9 UBS Group AG Switzerland Banks & Brokers 5.6 Banco Santander SA Spain Banks & Brokers 4.7 Carlsberg Breweries A/S Denmark Consumer Products 4.6 Standard Chartered PLC United Kingdom Banks & Brokers 4.4 Societe Generale SA France Banks & Brokers 4.4 Sources: Refinitiv and S&P Global Ratings Credit Research & Insights. …
New Issue: Master Credit Cards Pass Compartment France Series 2025-1
Apr 25, 2025 -… Carrefour (60%) and BNP Paribas Personal Finance (40%) jointly own Carrefour Banque. …
Various Rating Actions Taken On 15 Italian Banks On Sovereign Upgrade And More Resilient Industry Dynamics
Apr 18, 2025 -… The outlook remains stable. BNP Paribas S.A. (Italy Branch): We raised our RCRs on the branch to 'AA-/A-1+' from 'A+/A-1'. ...Therefore, we raised our RCRs on BNP Paribas (Italy Branch) to 'AA-/A-1+' from 'A+/A-1'. Outlook The stable outlook reflect that of the parent BNP Paribas. Any upgrade or downgrade of BNP Paribas would translate into the same rating action on its Italian branch. …
Private Markets Monthly (EMEA Edition), April 2025: Unique Characteristics Of European Private Credit May Better Insulate Market From Shocks
Apr 10, 2025 -… While some players like BNP Paribas, Credit Agricole, Société Generale, and HSBC are taking part, the market is not large enough to securitize or to sell onwards to funds--and by and large is a limited arena. …
Capital Markets Could Support Bank Revenue In 2025, But Uncertainty Due To Tariffs Is High
Apr 9, 2025 -… Group SACP ALAC notches Sovereign support/ group support Additional factors Operating company ICR Outlook JPMorgan Chase & Co. bbb+ Very strong Strong Adequate Adequate Adequate 0 a+ 1 0 0 AA- Stable Bank of America Corp. bbb+ Strong Adequate Strong Adequate Adequate 0 a 1 0 0 A+ Stable BNP Paribas bbb+ Very strong Adequate Adequate Adequate Adequate 0 a 1 0 0 A+ Stable Citigroup Inc. bbb+ Strong Adequate Adequate Adequate Adequate 0 a- 2 0 0 A+ Stable Goldman Sachs Group Inc. …
European Bancassurers Are On The Offensive
Apr 8, 2025 -… Recent Deal Announcements Propel The Bancassurance Model In this context, several recent strategic announcements point to a wider adoption of the bancassurance model: In August 2024, BNP Paribas (BNPP) announced its intention to acquire AXA Investment Managers to boost its asset management and insurance activities. ...BNPP would execute this transaction via its insurance arm, BNP Paribas Cardif. Similarly, the midsize Italian lender Banco BPM announced on April 4, 2025, that it had acquired a 90% stake in the asset manager Anima via its insurance arm. ...Finland A+/Stable N/A OP Financial Group AA-/Stable BNP Paribas Cardif France A/Stable A-/Stable BNP Paribas S.A. …
European Banks Power Through Uncertainties
Mar 12, 2025 -… For several other large banks that benefit from excess capital and that have already met profitability targets, for example UniCredit and BNP Paribas, positive market sentiment fuels ambitions to invest and build scale. ...A prime example is BNP Paribas, whose investment and protection services (IPS) division was a key growth driver in 2024. ...The deal follows a string of announcements, with BNP Paribas acquiring Axa IM, and Banco BPM announcing its intention to fully acquire Anima. …
European Banks Continue To Embrace Significant Risk Transfers
May 29, 2025 -… . €) ABN AMRO 0 0 AIB 0 819 Banco BPM 6,981 7,743 Banco Comercial Português 5,202 5,422 Bank of Ireland 5,069 4,646 Bankinter 394 225 Barclays 60,326 58,979 BBVA 4,021 9,587 Belfius 0 0 BNP Paribas 42,799 47,211 BPCE 3,019 2,109 CaixaBank 1,208 2,583 Commerzbank 13,037 11,428 Crédit Agricole Group 14,134 12,356 Crédit Mutuel 0 288 Danske Bank 0 0 Deutsche Bank 27,523 33,811 DNB Bank 0 1,443 DZ Bank 0 0 Erste 1,318 4,597 Handesbanken 0 0 HSBC 9,752 12,484 ING 4,845 3,064 Intesa Sanpaolo 26,546 29,430 KBC 0 0 Lloyds 14,551 17,132 NatWest 2,645 10,760 Nordea 14,537 22,052 Nykredit 0 0 Rabobank 525 1,083 Raiffeisen Bank International 12,692 12,150 Sabadell 3,023 4,013 Santander 47,490 73,537 SEB 0 0 Société Générale 17,737 16,301 Standard Chartered 14,788 14,696 Swedbank 0 0 UBS 35,053 18,516 UniCredit 12,865 22,827 Zürcher Kantonalbank 0 0 Total 402,079 461,293 Non-EUR figures converted to EUR at the relevant exchange rate. …
European 'AAAm' Money Market Fund Trends (First-Quarter 2025)
May 7, 2025 -… . €) --Portfolio maturity (days)-- Portfolio credit quality (%) WAM (R) WAM (F) A-1+ AAAm Institutional Cash Series plc - BlackRock ICS Euro Liquidity Fund 85,426 45 66 61 AAAm BNP Paribas InstiCash EUR 1D LVNAV 31,982 45 79 59 AAAm JPMorgan Liquidity Funds - EUR Liquidity LVNAV Fund 30,265 42 62 66 AAAm Goldman Sachs Funds, plc - Goldman Sachs Euro Liquid Reserves Fund 23,280 43 52 56 AAAm HSBC Global Liquidity Funds plc - HSBC Euro ESG Liquidity Fund 22,822 28 75 55 AAAm DWS Deutsche Global Liquidity Series PLC - Deutsche Managed Euro Fund 20,417 30 44 51 AAAm MS Liquidity Funds – Euro Government Liquidity Fund 18,548 37 55 58 AAAm State Street Liquidity plc - State Street EUR Liquidity LVNAV Fund 8,317 35 53 61 AAAm Fidelity Institutional Liquidity Fund PLC - The Euro Fund 6,967 31 55 62 AAAm Institutional Cash Series plc - BlackRock ICS Euro Government Liquidity Fund 4,815 25 25 100 WAM (R)--Weighted average maturity to reset. …
European CMBS Monitor Q1 2025
Apr 30, 2025 -… . £) Arranger No. of loans No. of properties Sponsor Property type Jurisdiction Article Sequoia Logistics 2025-1 DAC 428.8§ Barclays 1 53 Blackstone Logistics France, The Netherlands, Finland, Germany Presale: Sequoia Logistics 2025-1 DAC Pembroke Property Finance 3 DAC 277.6§ BNP Paribas, HSBC 109 233 Various Mixed Ireland Presale: Pembroke Property Finance 3 DAC Taurus 2025-1 EU DAC* 212.3§ Bank of America 1 37 Carlyle Logistics Germany, France Taurus 2025-2 U.K. …
Global Financing Conditions: Peak Uncertainty Leaves A Range Of Projections For Issuance
Apr 28, 2025 -… . € EFSF Luxembourg Financial Institutions 12 Credit Agricole SA France Banks & Brokers 11 HSBC Holdings PLC United Kingdom Banks & Brokers 9.6 BNP Paribas SA France Banks & Brokers 8.5 Barclays PLC United Kingdom Banks & Brokers 8.4 Rio Tinto Finance (USA) PLC United Kingdom Banks & Brokers 8.2 BPCE SA France Banks & Brokers 7.7 ABN AMRO Bank NV Netherlands Banks & Brokers 6.8 Nationwide Building Society United Kingdom Banks & Brokers 6.4 ING Groep NV Netherlands Banks & Brokers 5.9 UBS Group AG Switzerland Banks & Brokers 5.6 Banco Santander SA Spain Banks & Brokers 4.7 Carlsberg Breweries A/S Denmark Consumer Products 4.6 Standard Chartered PLC United Kingdom Banks & Brokers 4.4 Societe Generale SA France Banks & Brokers 4.4 Sources: Refinitiv and S&P Global Ratings Credit Research & Insights. …
New Issue: Master Credit Cards Pass Compartment France Series 2025-1
Apr 25, 2025 -… Carrefour (60%) and BNP Paribas Personal Finance (40%) jointly own Carrefour Banque. …
Various Rating Actions Taken On 15 Italian Banks On Sovereign Upgrade And More Resilient Industry Dynamics
Apr 18, 2025 -… The outlook remains stable. BNP Paribas S.A. (Italy Branch): We raised our RCRs on the branch to 'AA-/A-1+' from 'A+/A-1'. ...Therefore, we raised our RCRs on BNP Paribas (Italy Branch) to 'AA-/A-1+' from 'A+/A-1'. Outlook The stable outlook reflect that of the parent BNP Paribas. Any upgrade or downgrade of BNP Paribas would translate into the same rating action on its Italian branch. …
Private Markets Monthly (EMEA Edition), April 2025: Unique Characteristics Of European Private Credit May Better Insulate Market From Shocks
Apr 10, 2025 -… While some players like BNP Paribas, Credit Agricole, Société Generale, and HSBC are taking part, the market is not large enough to securitize or to sell onwards to funds--and by and large is a limited arena. …
Capital Markets Could Support Bank Revenue In 2025, But Uncertainty Due To Tariffs Is High
Apr 9, 2025 -… Group SACP ALAC notches Sovereign support/ group support Additional factors Operating company ICR Outlook JPMorgan Chase & Co. bbb+ Very strong Strong Adequate Adequate Adequate 0 a+ 1 0 0 AA- Stable Bank of America Corp. bbb+ Strong Adequate Strong Adequate Adequate 0 a 1 0 0 A+ Stable BNP Paribas bbb+ Very strong Adequate Adequate Adequate Adequate 0 a 1 0 0 A+ Stable Citigroup Inc. bbb+ Strong Adequate Adequate Adequate Adequate 0 a- 2 0 0 A+ Stable Goldman Sachs Group Inc. …
European Bancassurers Are On The Offensive
Apr 8, 2025 -… Recent Deal Announcements Propel The Bancassurance Model In this context, several recent strategic announcements point to a wider adoption of the bancassurance model: In August 2024, BNP Paribas (BNPP) announced its intention to acquire AXA Investment Managers to boost its asset management and insurance activities. ...BNPP would execute this transaction via its insurance arm, BNP Paribas Cardif. Similarly, the midsize Italian lender Banco BPM announced on April 4, 2025, that it had acquired a 90% stake in the asset manager Anima via its insurance arm. ...Finland A+/Stable N/A OP Financial Group AA-/Stable BNP Paribas Cardif France A/Stable A-/Stable BNP Paribas S.A. …
European Banks Power Through Uncertainties
Mar 12, 2025 -… For several other large banks that benefit from excess capital and that have already met profitability targets, for example UniCredit and BNP Paribas, positive market sentiment fuels ambitions to invest and build scale. ...A prime example is BNP Paribas, whose investment and protection services (IPS) division was a key growth driver in 2024. ...The deal follows a string of announcements, with BNP Paribas acquiring Axa IM, and Banco BPM announcing its intention to fully acquire Anima. …