BNP Loses Fight Over Swiss Franc Home Loans That Turned Sour (1)

BNP Paribas SA’s personal finance unit will have to pay millions of euros in compensation after it misled clients who signed up for Swiss-franc mortgages that turned ruinously expensive amid the financial crisis of 2008-2009.

Judges at the Paris appeals court confirmed most of an earlier guilty verdict and ruled that BNP Paribas Personal Finance SA was “fully responsible for the damage” suffered by a group of about 2,500 customers who sued the bank.

The case concerns loans denominated in Swiss francs but redeemable in euros, whose repayments shot up when the Swiss currency became a haven as a ...