French state-owned Banque Nationale de Paris is planning a one-for-10 capital increase in the next few months the bank announced at its annual press conference. BNP is planning to distribute one new share or investment certificate for every 10 held. The French state is a 99.97 pct shareholder in the bank which is due for privatisation during the next five years under the governments plan to return 65 state-owned banks insurance companies and industrial groups to the private sector.
BANQUE NATIONALE DE PARIS TO RAISE CAPITAL