According to Pierre-Louis Deumier, the client base is quite diverse, spanning multiple industries: We have a strong business related to building infrastructure for oil and gas in these markets. However, given the long-term outlook for MEA s economic expansion, there are other types of multinationals that see Dubai and South Africa as their hubs for the region the Bank is benefitting from their presence.
Large Regional Corporate Client Relationships
As regional economies have diversified over the recent decades, so have the companies that operate here, requiring an ever more sophisticated approach from their banking partners. Large Regional Corporate (LRC) Clients are also supported by the Corporate Bank at BNP Paribas, providing comprehensive financial solutions ranging from transaction banking to risk management and advisory. LRCs are large groups and local corporates operating in a variety of sectors, such as construction, trading, luxury goods and retail distribution, and manufacturing.
In line with the Bank s strategy of bringing proximity to clients, the LRC operate in each of the Bank s GCC branches and serve as an entry point linking the client to the BNP Paribas product specialists and networks.
Omar Lazrak, Regional Head of Large Regional Corporates, explains how regional clients can benefit from the Bank s entire range of financial services:
LRC as an organisational concept is relatively recent, though some of our client relationships date back more than 40 years. Many companies have rapidly built scale in their home markets and are developing regional and sometimes global ambitions. Our recognised transaction banking capabilities particularly in trade solutions, cash management and fixed income and global expertise are particularly valued. Our unique set-up in the Gulf also allows us to deploy a holistic approach to our relationships and to support our clients growth in the region and beyond.
BNP Paribas Fixed Income business line has been at the centre of the Bank s development in the Arabian Gulf, especially over the last decade, as it played a key role in helping the region to diversify its funding sources.
As the region s economies have developed, governments and companies have sought to diversify away from pure bank lending into stable, long-term financing offered by international credit markets. The move gathered pace following the 2008-2009 global economic crisis, with the GCC fixed income market developing rapidly, and international investors increasingly drawn to the region s strong credit profiles.
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