14 Sep '18, 8am

'Turkey is great': BNP Paribas chairman says his bank is not pulling out of the troubled country

Despite the economic challenges facing Turkey that have sent the lira on a dramatic fall, the country remains a "great" market that BNP Paribas has no intention of exiting, the French bank's chairman said on Friday. "Turkey is a great country, it's a great economy," Jean Lemierre, the chairman of BNP Paribas, told CNBC's Nancy Hungerford and Mandy Drury at the annual Singapore Summit . "We should calm down all these comments. Turkey is great. They face difficulties, I hope and I'm sure they know how to face the difficulties," he said in response to a question about whether the bank would consider pulling out of Turkey given that many challenges the country faces won't go away anytime soon. BNP Paribas has one of the largest exposures to Turkey among European banks, according to Reuters , which cited one investment in particular: The French lender controls 72 percent of the...

Full article: https://www.cnbc.com/2018/09/14/bnp-paribas-on-turkey-lir...

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