BNP Paribas Seeks New Offshore Center as Bank Drives Down Costs

BNP Paribas SA is scouring for a new low-cost location to house support staff as part of plans by the French bank to keep driving down costs under its new strategic plan.

The Paris-based lender, which has long-standing technical and administrative operations in India and Portugal, wants to choose a third country to host more middle- and back-office employees, people familiar with the plans said. The lender aims to make a decision in the coming months, the people said, requiring anonymity as the plans aren’t public yet.

BNP Paribas is set to unveil a new strategic plan on Feb. 8 ...