BEIJING, May 18, 2017
AIIB Awards Global Custody Mandate to BNP Paribas
The Asian Infrastructure Investment Bank (AIIB) has awarded a global custodian mandate to BNP Paribas Securities Services as the new, Beijing based bank seeks to put in place its internal financial infrastructures for its liquidity investments. BNP Paribas is expected to have global custody of up to USD 20 billion of AIIB assets and will be providing a suite of custody services, with the agreement covering master custody services and other value-added services.
Thierry de Longuemar, AIIB’s Vice-President and CFO, said, "As a new multilateral financial institution, we are focused on building our trading capabilities to deliver infrastructure projects that will improve Asia’s development. BNP Paribas demonstrated solid understanding of our needs and provides us with an integrated, global solution. We also observed a strong level of management commitment and a partnership approach that is aligned with our culture and values."
"This is a complementary partnership, with BNP Paribas being a responsible and sustainable bank and AIIB’s lean, clean and green ethos," BNP Paribas’ Asia Pacific Chief Executive Officer Eric Raynaud said. "The breadth of our investment support & facilitation capabilities, the strength of our horizontal integration model and our strong service capability, resulted in BNP Paribas winning this mandate in a global tendering process, demonstrating our One Bank approach is important to our clients."
The agreement is set to be implemented in the third quarter of 2017.
AIIB is a new multilateral development bank founded to bring countries together to address the daunting infrastructure needs across Asia. Headquartered in Beijing, AIIB commenced its operation in January 2016 and has now grown to 70 approved members from all over the world. Its mission is to improve economic and social development in Asia by investing in high quality, financially viable and environmentally friendly infrastructure projects.
About BNP Paribas in Asia Pacific:
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 15,000 employees* and a presence in 14 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
Worldwide, BNP Paribas has a presence in 74 countries with more than 190,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
* excluding partnerships
Beijing, July 18, 2017
AIIB Receives Third Triple-A Credit Rating
S&P Global Ratings ("S&P") announced it has assigned the Asian Infrastructure Investment Bank (AIIB) its highest possible rating and a stable outlook. According to its press release, S&P has provided its 'AAA/A-1+' long- and short-term issuer credit ratings to AIIB.READ MORE
Beijing, July 13, 2017
AIIB Receives Second Triple-A Credit Rating
Fitch Ratings ("Fitch") announced it has assigned the Asian Infrastructure Investment Bank (AIIB) its highest possible rating and a stable outlook. According to its press release, Fitch has provided AIIB with a long-term issuer default rating of ‘AAA’ and a short-term issuer default rating of ‘F1+’.READ MORE
Beijing, July 05, 2017
Millions of Villagers in Gujarat, India to Benefit from New Investment
Yesterday, the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) approved a loan of US$329 million to build access roads to approximately 4,000 villages in all 33 districts of Gujarat, India. Insufficient road connectivity into these villages limits their ability to access healthcare services, bring their goods to market and access transportation for their children to attend school. This project will construct and upgrade district and farm-to-market roads for the villagers and provide approaches to educational institutions, schools and hospitals. The upgraded road access is expected to have a positive impact on women and girls by improving school attendance rates for girls who currently drop out of school due to a lack of access to all weather roads.READ MORE