BNP Paribas acquisition of HSBC's custody business in Germany aims to expand its customer base.

According to a report by crowdfundinsider on June 29, deep tide TechFlow announced that BNP Paribas has reached an agreement with HSBC to acquire HSBC Continental Europe S.A.'s custody and deposit banking operations in Germany. The transaction is still subject to regulatory approval. This acquisition will strengthen BNP Paribas's position as a custodian and deposit bank in Germany, supporting its growth strategy in the region targeting institutional funds and Financial Intermediary sectors.

It is reported that BNP Paribas Securities Services (part of its Corporate and Institutional Banking division) will expand its client base through this acquisition, particularly in the product and service areas of German insurance companies. Employees of HSBC Continental Europe S.A. in Germany's custody business will be transferred to BNP Paribas's German Securities Services team.

The protocol is expected to be implemented in early 2026 and completed through phased customer migration.