German Landesbank Helaba (Hessen-Thüringen) is hoping to create around EUR 1 bn of new business in France this year as part of a plan to expand its activities in the French market. The bank, which recently announced the opening of a new office in a newly refurbished property on the Champs-Elysees in Paris, has been active in France since 1998.
German Landesbank Helaba (Hessen-Thüringen) is hoping to create around EUR 1 bn of new business in France this year as part of a plan to expand its activities in the French market. The bank, which recently announced the opening of a new office in a newly refurbished property on the Champs-Elysees in Paris, has been active in France since 1998.
'Our decision is not based on short-term opportunities but is part of our long-term view aimed at boosting activities with our French clients,' Roland Fuchs, head of Helaba's Paris office, said at the Mipim fair in Cannes. The new office will house a 10-strong team which, Fuchs said, is expected to double by next year.
The German bank's business in France currently amounts to around EUR 3 bn, according to Fuchs. Of this, around EUR 800 mln was provided to German investors and around EUR 1.2 bn went to French investors, with the balance being awarded to UK and US investors active in the country.
