BNP Paribas Plans No Capital Increase, Baudouin Prot Tells Echos

BNP Paribas (BNP) SA aims to comply with Basel III’s requirements without a capital increase, Chief Executive Officer Baudouin Prot told Les Echos in an interview on the newspaper’s website.

BNP Paribas will comply with the new capital requirements under Basel III by January 2013 by retaining earnings and cutting its balance sheet, Prot told Les Echos.

To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at fabiobv@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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