7matters on the record across its booking centres, 2017 to 2025
2.1/529 UHNW client ratings across its booking centres
The editor's opinion
Why BNP Paribas rates 1.8 out of 5
BNP Paribas rates 1.8 out of 5. The figure combines the ratings of its three rated booking centres (Singapore, one star; Hong Kong, two stars; Luxembourg, five stars), each weighted by the number of UHNW client ratings it has received, so a centre where more families bank counts for more. Luxembourg is the strongest at five stars; Singapore is the weakest at one star. Its booking entities carry seven matters on the record, the most recent in 2025; each is listed below with the centre it concerns. Across its booking centres, 29 UHNW client ratings average 2.1 out of 5.
Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. Each booking centre is rated on its own file, from the public record and what clients and their advisers tell us in confidence. The overall rating brings those ratings together; retail products, branches and apps play no part.
Where BNP Paribas stands out
Deposits are covered by a statutory protection scheme. Singapore and Luxembourg
Ownership and control are fully public. Singapore and Hong Kong
No politically exposed person holds a significant stake. Singapore and Hong Kong
Custody assets are protected by statute in the booking centre, with conditions a family should read. Hong Kong and Luxembourg
Deposits are covered by a protection scheme, with limits. Hong Kong
The custody terms are public and address most of what a family needs to know. Luxembourg
A full range of private banking services is published for this booking unit. Luxembourg
A dedicated desk serves external asset managers and family offices. Luxembourg
What to weigh
Two matters are still open with the authorities and not decided. It carries no weight in the rating until it is decided. Singapore and Hong Kong
Serious adverse findings against this licence holder in the last ten years. Singapore and Hong Kong
The last adverse finding is recent. All centres
Almost no private banking services are published for this booking unit. Singapore and Hong Kong
Only indicative figures are published, not a schedule. Singapore
No public account of how the issues behind past findings were remediated. Singapore and Hong Kong
The custody terms are public but silent on re-use of assets and on sub-custodians. Hong Kong
A significant regulatory finding stands on the record in the last ten years. Luxembourg
Luxembourg
The policy on third-party payments is only partly stated. Luxembourg
An owner's home jurisdiction carries a mixed official assessment against money laundering. Luxembourg
Singapore · BNP Paribas, Singapore Branch14 client ratings · 48% of the weight
Hong Kong · BNP Paribas, Hong Kong Branch12 client ratings · 42% of the weight
Luxembourg · BGL BNP Paribas S.A.3 client ratings · 10% of the weight
PPLI.com rating, weighted across the centres1.8
Each booking centre keeps its own rating, set on its own file. The overall rating is the average of those ratings, weighted by the number of UHNW client ratings each centre has received. A centre whose rating is still in preparation is shown but not counted.
The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.
The booking centres
BNP Paribas in 3 booking centres
Each booking centre is a separate legal entity, with its own licence, deposit protection, services and fees, and keeps its own PPLI.com rating. Everything on file for them is brought together on this page; open a centre for its own file.
What regulators, prosecutors and courts have decided against the booking entities of BNP Paribas, gathered from the files of all its booking centres, with the status, the amounts as published and a link to the original document. Each entry names the centre it concerns. Claims and investigations still under way are marked as open.
202517 October 2025
Jury verdict on liability for banking services to Sudan in breach of US sanctions
Reported by Al Jazeera on 20 October 2025: a federal jury in Manhattan found BNP Paribas SA liable on 17 October 2025 to three Sudanese plaintiffs for a combined USD 20.5 million, for services to the government of Sudan that violated US sanctions. The bank said it will appeal, and the plaintiffs' lawyers said the verdict opens the way for more than 20,000 Sudanese refugees in the US to seek damages.
Reported indictment for alleged breaches of Korean short-selling rules
Bloomberg reported on 25 October 2024, citing people with direct knowledge, that South Korean prosecutors had indicted BNP Paribas SA, the legal entity of the branch, for allegedly breaching short-selling rules under local capital markets law. The case is pending, and no verdict has been reported.
Fines for late disclosure of costs and charges and for inadequate suitability assessments
BaFin imposed administrative fines totalling EUR 830,000 on BNP Paribas S.A. on 3 July 2024, published on 25 July 2024, for breaches of the Securities Trading Act by its German branch. In the 2019/2020 financial year the branch at times failed to disclose all costs and charges on certain financial instruments on time, and the bank provided investment services without first adequately assessing clients' financial situation. The fine order is final and binding.
Administrative fine for severe breaches of AML/CFT professional obligations
After an inspection from May to November 2021, the CSSF found severe breaches of AML/CFT professional obligations at BGL BNP Paribas S.A. concerning a group of related high-risk clients: incomplete source of funds and wealth due diligence, inadequate transaction monitoring, late reporting to the financial intelligence unit, closure of relationships without informing the FIU, tipping off by some employees and insufficient involvement of AML compliance in approving high-risk relationships. On 8 May 2024 the CSSF imposed an administrative fine of EUR 3,000,000 under Articles 2-1(1), 8-4 and 8-5 of the amended Law of 12 November 2004.
On 8 May 2024 the CSSF imposed an administrative fine.
The CSSF noted the bank fully cooperated and adopted a general action plan and corrective measures during and after the inspection.
Penalty surcharge for intentional naked short selling in 101 Korean stocks
Korea's Financial Services Commission, through its Securities and Futures Commission, found that a Hong Kong office placed short-sale orders for 101 Korean stocks worth about KRW 40 billion between September 2021 and May 2022 without first borrowing the shares, and judged the conduct intentional. The decision does not name the bank; the facts match BNP Paribas, Hong Kong Branch, whose share of the KRW 26.52 billion in total penalties was about KRW 11 billion according to KED Global. The regulator also requested a criminal investigation of the Hong Kong units involved.
Reprimand and fine for too few staff on suspicious-transaction reports and weak detection tools
The Sanctions Committee of the French Autorité de contrôle prudentiel et de résolution reprimanded BNP Paribas SA and fined it EUR 10 million on 30 May 2017 (procedure no 2016-06). An on-site inspection from 25 June to 2 October 2015 found too few staff handling suspicious transaction reports and weak tools for detecting unusual transactions in the bank's French operations. The Singapore branch belongs to the same legal entity, but the findings concern France.
Mis-selling claim by two former Indonesian clients over equity-linked products
Asian Private Banker reported, in an undated article, that two former Indonesian private banking clients sued BNP Paribas Wealth Management in Singapore for USD 11 million of losses on two-year equity-linked investments tied to Intel and Advanced Micro Devices, sold by a Singapore-based managing director. The claim was open when reported, the article names no court, and no judgment or settlement has been published.
Matters concerning other entities in the group (1)
201631 August 2016
Reprimand and HK$4 million fine for overcharging about 2,300 client transactions (2011 to 2013); about HK$9.5 million overcharged
The SFC found that BNP Paribas Wealth Management charged monetary benefits above the levels represented to clients on about 2,300 transactions between 1 January 2011 and 31 December 2013, totalling about HK$9.5 million. The firm self-reported, was reprimanded and fined HK$4 million, and agreed to an independent reviewer to ensure repayment. The SFC release names BNP Paribas (the branch) as administering repayments.
respondent was an affiliated registered institution (BNP Paribas Wealth Management); BNP Paribas administers repayments
has reprimanded and fined BNP Paribas Wealth Management (BNPPWM) $4 million.
Repayment of overcharged amounts to current and former clients; independent reviewer engaged.
What clients meet at BNP Paribas across its booking centres, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.
UHNW client ratings
2.1 out of 5, based on 29 client ratings across its booking centres.
Singapore1.3 out of 514 ratings
Hong Kong2.7 out of 512 ratings
Luxembourg3.3 out of 53 ratings
What clients report
Singapore. The one reported claim by private clients is the USD 11 million mis-selling suit brought by two former Indonesian clients over equity-linked products, and no outcome has been published. In the Singapore courts the branch has appeared as claimant, suing two individuals on guarantees of about EUR 30 million in BNP Paribas SA v Jacob Agam, where the Singapore International Commercial Court gave a procedural ruling in March 2018.
Hong Kong. In August 2016 the SFC reprimanded and fined BNP Paribas Wealth Management, then a separately registered group company, for overcharging clients on about 2,300 transactions between 2011 and 2013. On 29 March 2022 the SFC banned a former relationship manager, Kim Bum Suk, for 27 months for running a client account at his own discretion on pre-signed blank forms between March 2015 and August 2017, and did not sanction the bank. In Singapore, a suit filed in 2009 by a client of BNP Paribas since 2002 over alleged unauthorised trades was dismissed by the High Court.
Luxembourg. The one client-money matter is a fraud against a charitable foundation in Luxembourg, after which the CSSF examined the bank's anti-money laundering obligations between September 2024 and January 2025, with a focus on the foundation's accounts. In July 2025 the CSSF said it considered its intervention closed and announced no sanction.
Worth raising with the bank
Singapore. Ask whether the USD 11 million mis-selling claim by two former Indonesian clients has been decided or settled, and what changed in the sale of equity-linked products afterwards.
Singapore. Ask how the branch assesses a client's financial situation before giving investment advice, given the BaFin fine of July 2024 on the same legal entity for inadequate suitability assessments.
Hong Kong. Ask whether the Korean indictment of BNP Paribas SA reported in October 2024 concerns trading booked through the Hong Kong branch, and what the court has decided since.
Hong Kong. Ask what controls the bank now applies to pre-signed forms and discretionary instructions, given the SFC ban of March 2022 on a former relationship manager who used them.
Luxembourg. Ask what the CSSF communicated to the bank in July 2025 after its investigation linked to the fraud against a charitable foundation, and what changed in controls on foundation and charity accounts.
Luxembourg. Ask which breaches the CSSF fine of May 2024 covered and whether the remediation it required is complete.
Financial standing
Credit ratings published by the agencies for the companies named in the centre files, dated by the latest agency or bank document that confirms them
BNP Paribas Wealth Management grouped its advisory teams under Rajesh Hathiramani, moved Jack Lee to head discretionary portfolio management for Asia and named Che-Kun Hsu head of wealth management for Taiwan in place of Kate Lin.
Nicolas Otton, head of BNP Paribas Banque Privée France, was named to succeed Béatrice Belorgey as head of BGL BNP Paribas from 1 January 2026, subject to regulatory approval.
A federal jury in Manhattan found BNP Paribas SA liable for a combined USD 20.5 million to three Sudanese plaintiffs over banking services that breached US sanctions, and the bank said it will appeal.
Korea's Financial Services Commission fined the Hong Kong units of BNP Paribas and HSBC a combined KRW 26.5 billion for illegal short selling, its largest such penalty to date.
Garth Bregman became head of wealth management for Singapore and Southeast Asia from 1 September 2023, with Shafali Sachdev succeeding him as head of investment services Asia and David Lim named executive vice chairman Southeast Asia.
BNP Paribas named Lemuel Lee head of wealth management in Hong Kong, and Michael Yong-Haron, head of wealth management for North Asia and Hong Kong chief executive, left after more than two years.
What it costs
What BNP Paribas charges, centre by centre
Fees are set by each booking entity, so they are shown centre by centre. Three of the three centres of BNP Paribas publish a fee schedule, read on 6 November 2026 from the documents linked under each table. To compare banks fairly we put every published fee in US dollars at the same indicative rates and apply it to the same reference amounts, then rate each fee against the average of the other banks that publish it. Five stars is the lowest fee, one star the highest. Terms a family actually negotiates are often different, and a bank can change its schedule at any time.
The published fees side by side
Fee
Singapore
Hong Kong
Luxembourg
Other banks
Charge on large cash balancesper year above the stated threshold
0.50% a year
0.50% a year
Not in the schedule
Not compared
Custody and safekeepingeffective rate on USD 25 million
Not in the schedule
Not in the schedule
0.29% a year
0.30% a yearaverage of 38 other banks
Discretionary mandateeffective rate on USD 12.5 million, balanced profile
Not in the schedule
Not in the schedule
1.43% a year
1.22% a yearaverage of 25 other banks
Advisory mandateeffective rate on USD 12.5 million
Not in the schedule
Not in the schedule
0.49% a year
0.95% a yearaverage of 21 other banks
Equity tradecommission on a USD 250,000 trade, major exchange
Not in the schedule
Not in the schedule
1.50%
0.79%average of 47 other banks
Bond tradecommission on a USD 500,000 trade
Not in the schedule
Not in the schedule
1.10%
0.94%average of 42 other banks
Third party fund subscriptionfee on a USD 250,000 subscription
Not in the schedule
Not in the schedule
1.50%
1.38%average of 42 other banks
Currency conversionmargin on a USD 1 million spot conversion
Not in the schedule
Not in the schedule
0.52%
0.72%average of 30 other banks
Minimum annual feeper year, or fee below the asset threshold
Not in the schedule
Not in the schedule
USD 4,600 a year
USD 4,331 a yearaverage of 38 other banks
Outgoing international transferper transfer, standard
Not in the schedule
Not in the schedule
USD 230
USD 54average of 61 other banks
Transfer of securities to another bankper position
Not in the schedule
Not in the schedule
USD 115
USD 126average of 38 other banks
Closing the accountone off
Not in the schedule
Not in the schedule
USD 690
USD 713average of 21 other banks
Each fee is rated against the average of the other banks that publish it: five stars is the lowest, one star the highest. The schedules, their dates and what each leaves out are listed centre by centre below.
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, account maintenance, minimum annual fee, outgoing international transfer, transfer of securities to another bank, closing the account, lombard loan margin.
Hong Kong · BNP Paribas, Hong Kong BranchCentre file
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, account maintenance, minimum annual fee, outgoing international transfer, transfer of securities to another bank, closing the account, lombard loan margin.
The reference relationship, at BGL BNP Paribas's list prices
USD 215,044 a year
86 basis points for custody and a discretionary mandate (custody USD 36,856, discretionary mandate USD 178,188)
With the trades, conversions and transfers of the reference year added at list price: about USD 385,569 a year, 154 basis points.
against 22 other banks on custody and mandate fees
Price level of the published fees11 fees compared with the other banks that publish them
Not in the published schedule: account maintenance, lombard loan margin.
Third party payments. The schedule states: “Depuis le 1er janvier 2018, [la Banque] rembourse au Client la commission de distribution qu'elle perçoit des gestionnaires d'OPC détenus sur le compte du Client (capped at the net amount the Bank receives).”
How the comparison works: USD 25 million booked with the bank: half under a discretionary balanced mandate, half in custody with advice; 24 equity trades of USD 250,000 and 8 bond trades of USD 500,000 a year; 6 currency conversions of USD 1 million; 24 outgoing international transfers. Tiered fees are applied to those amounts tranche by tranche, stated minimums are applied, and amounts are converted at indicative rates of 2026-11-06. Read how we compare fees.
The bank at a glance
Identity, protection and services
Ownership
Group parentBNP Paribas SA (listed, Euronext Paris) Source
ControlWidely held; no shareholder with 10% or more Source (31 December 2024)
Holder of 10% or moreGrand Duchy of Luxembourg, 34.0% in BGL BNP Paribas S.A. Source (31 December 2024)
Disclosed holdings of 3% or moreBlackRock Inc. 6.0% Source (31 December 2024); Belgian State (through SFPI) 5.6% Source (31 December 2024); Amundi 5.0% Source (31 December 2024)
Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.
Booking entities
SingaporeBNP Paribas, Singapore BranchMAS · Branch of BNP Paribas SALicence: Qualifying Full Bank; also Exempt Capital Markets Services Entity, Exempt Trust Company, SGS Primary Dealer Source
Hong KongBNP Paribas, Hong Kong BranchHKMA (licensed bank incorporated outside Hong Kong); SFC (registered institution); home supervisors ECB/ACPR · Branch of BNP ParibasLicence: Licensed bank, incorporated outside Hong Kong (branch of BNP Paribas, Paris) Source
LuxembourgBGL BNP Paribas S.A.CSSF · Licence holder · LEI UAIAINAJ28P30E5GWE37Licence: Credit institution under Luxembourg law (CSSF); ECB significant institution Source
Offered at one or more booking centresOffered by the group, not confirmed at a centreNot located, which does not mean unavailable Checked on the bank's own pages for each centre.
Access and costs
Minimum relationshipSingapore: EUR 5 million Source Hong Kong: EUR 5 million Source Luxembourg:Not published
US personsSingapore: Not published Hong Kong: Not published Luxembourg: Not published
Fee scheduleSingapore: Published, with effect from 31 October 2017 SourceCompared below Hong Kong: Published, Currency Maintenance Fee with effect from 31 October 2017; page undated SourceCompared below Luxembourg: Published, Applicable 1 January 2026; published 31/10/2025; ref. PCT_WM_FR_01_2026_V1 SourceCompared below
Third party paymentsSingapore: Not published Hong Kong: Not published Luxembourg: Published Source
Transfer out termsSingapore: Not published Hong Kong: Not published Luxembourg: Published Source
Protection of client assets
Deposit protectionSingapore: Full banks in Singapore, including local banks and qualifying full banks, are members of the SDIC Deposit Insurance Scheme unless exempted by MAS: S$100,000 per depositor per member. Membership taken from the SDIC rule; the named member list is to be checked. Only eligible Singapore-dollar deposits are insured; deposits in US dollars or other currencies are not covered. Hong Kong: Bank states its deposit protection coverage: Eligible deposits ... protected by the Deposit Protection Scheme up to a maximum limit of HK$800,000 per depositor. Luxembourg: Luxembourg credit institutions are members of the FGDL: EUR 100,000 per depositor per institution, repaid within seven working days.
Custody lawSingapore: Not published Hong Kong: Client securities held by licensed or registered persons must be safeguarded under the Securities and Futures Ordinance and the Securities and Futures (Client Securities) Rules, as referenced in SFC Code of Conduct para 11.1. Luxembourg: Law of 1 August 2001 on the circulation of securities: securities held on account are an intangible interest of the account holders and are claimed collectively from the liquidator, with any shortfall shared pro rata (Arts 3(1), 10(1), 10(2)). Rules on re-use were not located in the statute text read.
Custody termsSingapore: Not published Hong Kong: Published Source Luxembourg: Published Source
Before opening an account
Custody agreement. Ask for the agreement covering the account you would open. Which entity holds the securities, what law governs the account, and where would the assets be held if a sub-custodian is used? Singapore
Relationship minimum. The published figure cited above is EUR 5 million. Ask whether it applies to the proposed mandate and whether assets in related accounts, entities or currencies count toward it. Singapore and Hong Kong
Transferring assets out. Ask which positions can be transferred without selling them, who approves exceptions, and how charges are calculated for each position and market. Singapore
Moving the portfolio. Ask the bank to review a sample list of your holdings and identify which it could transfer in specie. Request a written schedule of exit charges, including charges levied by any sub-custodian. Hong Kong and Luxembourg
Reporting to the family office. The bank lists a desk for external asset managers. Ask for a sample statement or data export and confirm whether it includes positions, transactions, accrued income and all currencies held. Luxembourg
Exit costs. The fee comparison shows USD 115 per position for a securities transfer. Ask what rate would apply to your mandate and whether the receiving bank or a sub-custodian would charge separately. See published fees. Luxembourg
Your experience
Rate BNP Paribas
If you bank with BNP Paribas in any of its booking centres, or advise clients who do, your experience forms part of its PPLI.com rating. Please say which centre you deal with. Every response is read by the editor and treated in strict confidence.
Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting the reference of the booking centre concerned: Singapore BK-SG-BNP-SG-73F521; Hong Kong BK-HK-BNP-HK-B1CA5C; Luxembourg BK-LU-BGL-339D9F.
Reviewing this file with us
Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.
If you represent BNP Paribas, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.
The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.
Brought together by the PPLI.com research desk from the files of its booking centres and the public sources listed. The rating is our editorial opinion; read how the overall rating is built.
Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Overall rating weighted by UHNW client ratings
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