BNP Paribas SA Chief Financial Officer Lars Machenil said the companies he works with haven’t been racing to tap credit lines, indicating that the risk of a cash crunch for the economy is remote.

BNP Paribas shares up 17% since Feb., driven by strong trading income. See why BNPQY stock offers value with a discount to tangible book value.

Like all European lenders, BNP Paribas is exposed to a tariff crunch. Yet despite trade war jitters, the 80 billion euro French bank is sticking to its 2026 revenue and return targets. A range of helpful airbags help explain why.