French bank BNP Paribas has 3 billion euro exposure to Russia, Ukraine

PARIS (Reuters) – French bank BNP Paribas said it had a total exposure of around 3 billion euros ($3.3 billion) to Russia and Ukraine, which it said was relatively limited, and added it was sticking to its previously announced 2025 financial targets.

“The gross exposures off- and on-balance sheet on Ukraine and Russia are limited,” it said, adding that in Ukraine they amounted 0.09% of the group’s total commitments, or about 1.7 billion euros, on Dec. 31 and in Russia amounted to 0.07%, or about 1.3 billion euros.

“Considering the way BNP Paribas operates in those two markets and secures its activities with guarantees and collaterals at a high level, the net residual combined exposures of BNP Paribas for Russia and Ukraine stand at around 500 million euros,” BNP Paribas said.

($1 = 0.9162 euros)

(Reporting by Sudip Kar-Gupta; Editing by Edmund Blair)