Paribas' risk to Asia small

Paribas' risk to Asia small

SINGAPORE (AFP): French banking giant Banque Paribas SA yesterday said its exposure to Indonesia and other crisis-struck Asian countries was "one of the lowest" among European banks.

Paribas said it had a total outstanding credit of 2.712 billion U.S. dollars to Indonesia, Thailand, Malaysia, South Korea and the Philippines, and that it had made a general provision of US$314 million "against potential Asian risks."

"The figure (for the general provision) is very conservative, very careful... Our exposure to Asia is one of the lowest existing among our competitors in France and even in Europe," Amaury-Daniel de Seze, member of the board of management of Compagnie Financiere de Paribas, said at a news conference here.

Paribas' outstanding loans among the crisis-hit countries were largest to South Korea at $1.518 billion, and to Indonesia at $431 million.

Corporates accounted for $815 million of the total loan to South Korea while banks there represented $703 million. In Indonesia, firms accounted for $391 million of the total lent by Paribas, while banks owed $40 million, Paribas' figures showed.