...Stable and Diversified Business Model: BNP Paribas S.A.'s (BNPP) ratings reflect its very diverse and stable business model as well as leading franchises in selected markets. The ratings are supported by the bank's resilient earnings generation, even in challenging operating environments. Despite recent improvements, the stock of impaired loans remains high compared with peers and is a rating weakness. Pan-European Franchise: The bank has a pan-European presence in retail and commercial banking, as well as sizeable consumer finance, wealth management and insurance operations. BNPP's strong franchises in European bond markets and among large corporate clients support its corporate and investment banking activities. Well-Balanced Earnings Mix: Business, product and geographical diversification underpins BNPP's earnings stability through the cycle. Retail and commercial banking operations including consumer finance cover many countries and generate more than half of BNPP's pre- tax profit....
