BMO Is Said to Express Interest in BNP Paribas’s U.S. Banking Unit
- Bank of the West has a book value of about $13.7 billion
- Wave of foreign lenders have been exiting U.S. retail banking
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Bank of Montreal has expressed interest in buying BNP Paribas SA’s U.S. banking arm, according to people familiar with the matter, a potential deal that would shore up its stateside presence.
The Canadian lender has held initial talks about an acquisition of BNP Paribas’s Bank of the West unit, the people said, asking not to be identified discussing confidential information.