UK Markets closed
  • FTSE 100

    7,765.15
    +4.04 (+0.05%)
     
  • FTSE 250

    20,035.39
    +119.88 (+0.60%)
     
  • AIM

    869.24
    +3.83 (+0.44%)
     
  • GBP/EUR

    1.1403
    +0.0014 (+0.12%)
     
  • GBP/USD

    1.2395
    -0.0012 (-0.0967%)
     
  • BTC-GBP

    18,564.93
    -92.88 (-0.50%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • S&P 500

    4,070.56
    +10.13 (+0.25%)
     
  • DOW

    33,978.08
    +28.67 (+0.08%)
     
  • CRUDE OIL

    79.38
    -1.63 (-2.01%)
     
  • GOLD FUTURES

    1,927.60
    -2.40 (-0.12%)
     
  • NIKKEI 225

    27,382.56
    +19.81 (+0.07%)
     
  • HANG SENG

    22,688.90
    +122.12 (+0.54%)
     
  • DAX

    15,150.03
    +17.18 (+0.11%)
     
  • CAC 40

    7,097.21
    +1.22 (+0.02%)
     

BNP Paribas considers restructuring of consumer finance unit

A logo on a BNP Paribas bank branch in Paris

(Reuters) - French lender BNP Paribas SA said on Friday it had submitted ideas for an overhaul of its consumer finance department to unions, after a media report that it was planning a restructuring of the unit.

"BNP Paribas Personal Finance presented its strategic reflections to the social partners regarding the refocusing of its activities and the adaptation of its operating model," the bank said in an emailed statement.

Citing several people familiar with the matter, Bloomberg News earlier reported that the company is exploring ways to improve returns at the unit given profitability is expected to decrease into this year.

The lender could decide to sell portions of the division or start running down some of its loan books, the report said.

(Reporting by Jyoti Narayan in Bengaluru and Tassilo Hummel in Paris; Editing by Shounak Dasgupta and Jan Harvey)