From Yahoo Finance: 2025-06-09 07:54:00

BNP Paribas plans to close 200 branches in France to boost profitability. CEO Jean-Laurent Bonnafe aims to reduce branch staff by 5% annually, shifting focus to online services. The bank will offer alternative roles to impacted staff and avoid layoffs through natural attrition. The restructuring aligns with revitalizing retail banking amid regulatory challenges. Isabelle Loc will lead the retail division, leveraging digital platforms for growth. Further details on the restructuring plan will be revealed by June.

Additionally, BNP Paribas extended its partnership with IBM Cloud for ten years to enhance cloud-native strategy and artificial intelligence capabilities. The bank’s strategy emphasizes digital transformation to optimize operations and services. This move reflects a broader trend in the financial sector towards leveraging technology for competitive advantage.

Read more: BNP Paribas to shutter 200 branches in France by 2027