BNP Paribas ring fences Greek debt exposure

NEWLY INKED WTA title sponsor, BNP Paribas is the biggest holder of Greek bonds of all French banks so its investors were reassured when the it announced a provision of only €534m against its exposure to a default. Its results showed greater financial strength than some had expected with income and earning both up over 7%. All operating divisions improved their performance over 2010. This will be good news too for the WTA who between BNP’s strength and co-sponsor Turkish bank TEB’s local focus, have avoided exposure to the volatile Eurozone.