BNP Paribas to acquire HSBC's custody and depositary business in Germany
June 27 (Reuters) - BNP Paribas (BNPP.PA), opens new tab agreed with Europe's biggest bank HSBC (HSBA.L), opens new tab to acquire the custody and depositary bank business of HSBC Continental Europe in Germany, BNP Paribas said on Friday.
The agreement provides for the transfer of the services currently provided by HSBC Continental Europe, Germany, to BNP Paribas' Securities Services business in Germany, it added.
The implementation of the deal is expected to begin in early 2026 through a phased client migration, the French bank said in a press release.
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