Trading has stopped for one of the top leading European banks, BNP Paribas after 8% plunge in share price in early trading today.

Banking crisis has now reached Europe, with shares of BNP Paribas and Credit Suisse falling this morning.

Few days back, some banks in the United States of America also faced a rug-pull crash too. Bank Regulator in USA shut two different banks, SVB and one other bank.

This has raised panic among citizens, but authorities have urged for calm among the bank customers and investors.

United States president, Joe Biden reacting to this, also raised positive hope among the citizens that the banking system remains strong and reliable.

Reacting to these several bank crashes, the stock market has been very volatile, while the Crypto counterpart has changed gear into a bull market.

Bitcoin, the largest cryptocurrency in terms of market cap has made a run from a price lesser than 20K to around 25k.

All other alternate coins, called Alt coins have also taken after Bitcoin with a massive hike.

BNP Paribas Bank

BNP Paribas is a French worldwide banking conglomerate formed in 2000 by the merger of Banque Nationale de Paris (BNP, “National Bank of Paris”) and Paribas, formerly known as Banque de Paris et des Pays-Bas.

BNP Paribas bank 8% crash

BNP Paribas S.A. is the full name of the group’s parent company.

The bank is divided into three key business sectors, with 190,000 personnel as of February 2021:

Commercial, Personal Banking & Services (CPBS), Investment & Protection Services (IPS), and Corporate & Institutional Banking (CIB).

Listed on Euronext Paris’ first market and is a component of the Euro Stoxx 50 stock market index, as well as the French CAC 40 index.

In Europe, BNP Paribas is the second-largest banking group after HSBC, and the world’s ninth largest banking group, effectively a bulge bracket.

Following the 2008 financial crisis, it grew to become one of the world’s five largest banks.

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Despite major legal troubles in 2014, including the highest-ever penalties for breaking US sanctions, it remains one of the world’s ten largest banks.

Financial Stability Board considers it a systemically significant bank.