A closer look at French banks in Canada

Ever wonder which French banks have branches in Canada? In this article, we will examine BNP Paribas and Société Générale, two key French banks operating in Canada. Combining a clear understanding of the Canadian financial landscape with their vast international expertise, these financial corporations offer a wide variety of cross-country services that make home banking easy for foreign customers.

We will also take a look at the Wise Business Account, an alternative to banking across borders, offering the financial support you need for all your international business transactions.

A glance at our guide
French Banks Present in Canada BNP Paribas in Canada Services Offered to Canadian Businesses Société Générale in Canada Services Offered to Canadian Businesses The Wise Business Multi Currency Account

French Banks Present in Canada

We will now examine two premier French financial institutions that have an expansive presence in Canada—BNP Paribas and Société Générale.

BNP Paribas in Canada

BNP Paribas has provided a comprehensive variety of specialized financial services and investment solutions for 60+ years to assist Canadian businesses in their development. It has two offices in Toronto and Montreal and employs over 1,400 individuals in Canada. As one of the largest global banks, this bank offers Canadian clients international access to the Americas, Europe, Asia-Pacific, Middle East, and African markets.

This helps this financial giant support its clients, including SMEs, entrepreneurial ventures, community associations, and corporate and institutional clients. With the help of BNP Paribas, these customers can realize different projects through solutions encompassing financing, investment, savings, and protection insurance.

Services Offered to Canadian Businesses

The BNP Paribas Group provides banking and financial services in three primary operating divisions¹. These include:

• Commercial, Personal Banking & Services (CPBS): which unites the Group's retail banking networks and other specialized businesses;
• Investment & Protection Services (IPS): which offers savings, investment, and protection options; and,
• Corporate & Institutional Banking (CIB): which serves institutional investors and corporate clients in Canada.

With these services, BNP Paribas aims to support a responsible and sustainable economy in Canada. The financial institution does this by providing its clients with financial advice and guidance that upholds the greatest ethical standards. In this way, it also attempts to address pressing issues related to social inclusion, regional development, and the environment.

BNP Paribas combines international expertise with a thorough grasp of the Canadian landscape. Thus, this banking giant provides strategic advice and first-class access to financing and transactional banking services on a global level.

Société Générale in Canada

Société Générale has been providing financial services to the Canadian government, financial institutions, and multi-national corporations since 1974.

Société Générale serves clients in a variety of industries, including the energy and utility industry, soft commodities, and oil and gas. It has established itself as a global reference in three focus areas: investment banking, international finance, and global markets².

The competitive benefit of doing business with this global financial institution in Canada extends from its huge international reach, the wide range of products offered, and its significant local presence in Toronto and Montreal.

Services Offered to Canadian Businesses

Société Générale focuses on providing corporates and financial institutions with bespoke global solutions for M&A, capital structure advisory, market intelligence and liquidity, and asset and liability management. Some of the services offered include:

• Investment Banking: They provide strategic advisory expertise to clients across several segments. This includes debt and equity financing, ratings, market risk and structuring, and more.

  They also offer services in mergers and acquisitions, equity and debt capital markets, strategic acquisition financing, and strategic equity transactions.

• Markets: They deliver high-quality financing, equity, derivatives, and asset investment, along with risk management solutions to a wide range of clientèle.

  This includes asset managers, pension funds, insurance providers, banks, hedge funds, corporations, family offices, sovereign funds, and distributors of retail networks across Canada.

• Transaction Banking: Société Générale offers global transactional banking services to corporates and financial institutions.

  These include various services involving domestic and international payments, financial needs, liquidity through cash concentration, and supply chain finance.

• Financing: Solutions include asset, leverage, and project financing, export finance, natural resource and infrastructure financing, securitization, debt capital markets, rating advisory, etc.

• Securities Services: Société Générale Securities Services is a special offering of agile, efficient, and reliable financial security services adapted to the latest financial markets and regulatory guidelines.

  This applies to corporations, financial intermediaries (brokers, investment banks, private banks, commercial banks), asset managers, and institutional investors (insurance firms, governmental and international organizations, etc.).

  Services include clearing, custody, trustees, and retail custody, liquidity management, asset servicing, fund administration, and global issuer solutions.

• Equipment Finance: This specialized solution is primarily provided to vendors in industrial equipment, transportation, technology markets, healthcare, and the green energy sector.

• Positive Impact Finance: Société Générale is well-positioned to assist its clients in achieving their sustainability goals as the world's top bank for transition strategy by Euromoney in 2022 and 2023.

  Société Générale has positive effects ingrained in its advisory, financing, and investment products. Its global team of experts also has more than 20 years of thought leadership and innovation experience.

  Thus, this premier banking services provider helps its clients navigate the transition towards a more sustainable future.

Meet Wise - Manage Your Money Easily and Efficiently

If you want a financial services provider that allows you to move your money internationally without excessive fees, you could check out Wise.

If you are already using a Wise account for personal financial requirements, you would want to know how the business account offers more features for your business.

Wise makes global money management easy. Businesses of all sizes can use Wise. Since it allows global transactions at nominal fees, you do not have to worry about your French bank's presence in Canada. With Wise, you can

• move your money between CAD, USD, EUR GBP, INR, and more, at the mid-market exchange rate and without high conversion fees
• send money overseas to staff and suppliers in India, Poland, the US, and more
• get local account details for 8+ different currencies, enabling an easy and free way for your customers to get paid.

The platform further allows up to 1000 payouts simultaneously, perfect for businesses with foreign clients, contractors, or suppliers. Additionally, Wise also offers a powerful API that lets you automate payments and integrates with leading accounting software worldwide, like Xero and QuickBooks, to help you simplify your financial data without hassle³.

Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.

A little more about Wise in Canada: Wise Payments Canada Inc. is registered as a money service business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under registration number M15193392 and is licensed in Québec by the Autorité des marchés financiers (AMF) with license number 902804.

A little more about Wise in France and the EU: Wise Europe SA is a company incorporated in Belgium with registered number 0713629988. Our registered office is at Rue du Trône 100, 3rd floor, 1050 Brussels, Belgium. Wise is a Payment Institution authorized by the National Bank of Belgium.

Get your Wise Business Account in a few clicks

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Sources:

1 - BNP Paribas in Canada | Who we are

2 - Canada (societegenerale.com)

3 - The easy to use International Business Account from Wise - Wise

Sources verified on 27 March 2024