November 16, 2015 / 10:58 AM / 2 years ago

French bank BNP to set up financial reporting centre in Portugal

PARIS, Nov 16 (Reuters) - France's BNP Paribas will set up a 'European Finance Operations Centre' in Lisbon employing about 200 people, it said in a job advertisement on its website, as banks face growing workloads to deal with regulation and accounting rules changes.

The centre will be part of the bank's finance department, the advert said. Its finance operations have been traditionally run from France and Belgium.

BNP Paribas declined to comment.

Labour costs in France are among the highest in Europe at 35 euros per hour versus around 13 euros in Portugal, according to Eurostat data.

Reporting by Maya Nikolaeva; editing by Susan Thomas

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