BNP Paribas will seek to expand in Asia and the United States as Europe shows signs of a "low growth scenario" this year, Jean-Laurent Bonnafe, chief executive of BNP Paribas, told CNBC.
BNP Paribas announced a three-year plan to save 2 billion euros ($2.69 billion) in costs annually after its fourth-quarter profits were hit by Europe's low-growth economic environment.
France's number one listed bank reported a 32.8 percent fall in net profit for the fourth quarter of 2012 to 514 million euros. Analysts had been expecting a profit closer to 1.0 billion,according to a poll by Reuters.