French bank BNP Paribas SA has plans to exit its commodities finance business in the United States, reported Bloomberg.
“The decision taken to exit this business was consistent with our approach in EMEA,” the bank said in a statement in response to questions. “The impact is limited, and BNP Paribas remains deeply committed to the U.S. and Americas” as well as its energy and renewables clients, it said.
BNP sold the book of loans to Mitsubishi UFJ Financial Group Inc.