BNP Paribas BNPP.PA has signed a deal to buy HSBC's private banking unit in Germany as it continues to expand its footprint in wealth management, the French lender said on Monday.

BNP Paribas acquires HSBC’s German private banking unit, boosting assets under management to €40bn, enhancing its eurozone wealth management

BNP Paribas announces it has signed an agreement with HSBC (NYSE: HSBC) for the acquisition of their Private Banking activities in Germany.

Die Konsolidierung im deutschen Wealth Management setzt sich fort. HSBC Deutschland will jetzt ihr Private-Banking-Geschäft an BNP Paribas verkaufen. Erst vor kurzem hatte ABN Amro die Übernahme von Hauck Aufhäuser Lampe bekanntgegeben.

BNP Paribas has agreed to buy the private banking operations of HSBC in Germany as it accelerates its expansion drive in a deal that will grow its exposure to wealthy entrepreneurs in Europe’s biggest economy.

HSBC Holdings plc (NYSE:HSBC) shares are trading higher after the company inked a deal with BNP Paribas (OTC:BNPQY) to sell its private banking activities in Germany. The financial details were not disclosed.

France's BNP Paribas announced in Frankfurt on Monday that it had bought HSBC's German private banking unit. The value of the deal was not released. The transaction is expected to be closed during the second half of 2025 once regulatory approvals had been obtained,