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BNP Paribas is enhancing its resilience by dedicating a new area in its data centers for IBM Cloud services, scheduled for implementation in 2028. This initiative aims to ensure uninterrupted critical banking services and comply with the EU's Digital Operational Resilience Act, while also leveraging GPUs for generative AI applications and modernizing its infrastructure with microservices via Red Hat OpenShift. Marc Camus, the bank's CIO, emphasized the commitment to investing in advanced technologies to bolster security and compliance.
BNP Paribas has signed a multi-year agreement with IBM Cloud to enhance its data center infrastructure, dedicating a new area for IBM Cloud hardware by 2028. This initiative aims to comply with the European DORA regulation and bolster business continuity, security, and customer data protection. Additionally, BNP will leverage GPU capabilities on IBM Cloud to explore generative AI applications, while also planning to implement Oracle's Exadata Cloud@Customer for improved database management.
Raiffeisen Switzerland is set to issue two bonds totaling CHF 480 million, managed by BNP Paribas, Deutsche Bank, and UBS. The first tranche of CHF 170 million has a coupon of 0.850% and matures in four years, while the second tranche of CHF 310 million offers a coupon of 1.1875% with a seven-year maturity. Both tranches will be listed on SIX starting May 12, 2025.
BNP Paribas has renewed its partnership with IBM Cloud for another 10 years, enhancing its data center capabilities to support digital transformation and operational resilience. The new infrastructure, set for 2028, will ensure continuity of critical banking services and bolster data security, aligning with European DORA regulations. Additionally, the bank is modernizing applications using a cloud-native approach with Red Hat OpenShift, aiming to improve flexibility and responsiveness in its services.
BNP Paribas Asset Management has partnered with Scottish Widows to create a long-term asset fund (LTAF) focused on private credit, aimed at providing workplace savers access to private markets. The fund will feature a diversified portfolio, initially investing in infrastructure debt and credit risk assets, with plans to expand into areas like commercial real estate debt and direct corporate loans. Emphasizing ESG principles, the fund is set to launch in the second half of the year, pending regulatory approval.
Finland has issued a new 10-year government bond worth 4 billion euros ($4.57 billion), maturing in September 2035. The bond attracted over 23.5 billion euros in demand, with a spread set at 52 basis points above mid-swaps. The lead managers for this issuance included BNP Paribas, Citi, Credit Agricole CIB, Goldman Sachs Bank Europe SE, and Nordea.
BNP Paribas has renewed its partnership with IBM Cloud, expanding their collaboration to enhance the bank's technological infrastructure by dedicating a new area in its data centers for IBM Cloud by 2028. This initiative aims to bolster operational resilience, ensure business continuity, and support the bank's digital transformation, particularly in payment systems and generative AI use cases. The partnership also emphasizes a cloud-native approach using Red Hat OpenShift® to modernize applications and improve flexibility in banking services.
BNP Paribas has provided EUR 40 million to Panattoni for the development of a project featuring two buildings totaling nearly 63,000 sqm, with over half already leased to a major retail chain. The first stage, completed in February, includes 33,600 sqm equipped with modern technologies such as solar panels and extensive cold storage facilities. The second stage will add over 48,000 sqm and a 14,000 sqm building, with the entire park aiming for BREEAM Excellent certification for energy efficiency and ESG compliance.
UBS has raised its price target for BNP Paribas from €70.50 to €72.10 following the bank's first quarter results, maintaining a "Neutral" rating. Analyst Jason Napier noted that the results were largely in line with expectations, but no positive catalysts for the shares are anticipated in the near term.
UBS has assigned a 'Neutral' rating to BNP Paribas. The information provided is for informational purposes only and does not constitute a recommendation to buy or sell securities. Investors are cautioned about the risks involved, including the potential total loss of capital.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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