BNP Moves to Deliver on Capital Pledge With Flurry of Disposals

Jean-Laurent Bonnafe isn’t wasting any time to reassure investors.

Three weeks after the chief executive officer vowed to accelerate his plan to strengthen the capital of BNP Paribas SA, the French lender is in the middle of a disposal spree aimed at optimizing its portfolio of holdings.

On Friday, it announced the sale of a $310 million stake in its Polish subsidiary, along with a plan to dispose of its Moroccan subsidiary. Earlier this week, BNP Paribas agreed to sell 25% of AG Insurance to Belgian insurer Ageas.

The transactions are part of Bonnafe’s plan to boost a ...