NEW YORK, April 05, 2017 (GLOBE NEWSWIRE) -- BNP Paribas announces that it has sold its USD 120m share in the USD2.5bn Dakota Access Pipeline loan. The decision to divest the loan was made following an extended and comprehensive review of the project including consultation with all the relevant stakeholders.
The sale of our stake signals the importance of full and detailed consultation on projects that impact large numbers of stakeholders.
Following the sale of the loan, BNP Paribas no longer has financial exposure to the Dakota Access Pipeline.
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About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 190,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.