BNP Paribas gets regulatory approval to open branch in South Africa.

By bne IntelliNews March 23, 2012
South Africas central bank has granted a permission to French banking group BNP Paribas to set up a branch in the country, Business Live reported. This will see BNP Paribas current representative office in the capital of Johannesburg, converted into a full commercial branch, offering corporate and investment banking services. It will enable the bank to expand its range of products and services in South Africa. BNP Paribas bought last year Cadiz Securities, the business unit of South African financial services group Cadiz Holdings hosting the company's offer in the cash, derivatives research and brokerage fields.

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