JOHANNESBURG, March 22 (Reuters) – The South African central
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 Pariba recently completed $22
million deal that gave it 60 percent of the stock broking arm of
domestic financial services group Cadiz Holdings.
(Reporting by Tiisetso Motsoeneng; editing by David Dolan)
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