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| Name | Symbol | Market | Type |
|---|---|---|---|
| Standard Bank Group Ltd (PK) | USOTC:SGBLY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.075 | 0.65% | 11.565 | 11.52 | 11.61 | 11.565 | 11.45 | 11.50 | 7,745 | 16:46:32 |
From Jul 2019 to Jul 2024
By Noemie Bisserbe
PARIS--French bank BNP Paribas SA (BNP.FR) said Thursday it had agreed to buy South African consumer finance business RCS for 185 million euros ($255 million), in a bid to expand its footprint in a fast-growing market.
Like many lenders in Europe, BNP Paribas, France's largest listed bank by assets, has been struggling to revive growth in the face of stricter regulation and a fragile economic recovery in Europe.
The French lender is now looking to expand its businesses outside Europe, and draw a line under the region's debt crisis.
RCS counts about 1 million cardholders in South Africa, Namibia and Botswana, and about 1,250 employees.
It is currently 55% owned by South Africa's Forschini group, while local lender Standard Bank holds the remaining 45% stake.
-Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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