BNP Paribas is expanding its wealth management business into Germany, using its relative financial strength despite recent turmoil as a point of attraction, according to media reports.

"Clients today are uncertain and are looking for a solid partner," Pascal Grundrich, Managing Director of BNP Paribas Wealth Management in Germany, was quoted as saying.

Paris-listed BNP, now mainly known in Germany through its online broker Cortal Consors, has come through the crisis well and will try to impress that message on potential clients, Mr Grundrich told journalists this week.

While new to the German wealth management market, BNP already claims the top spot in the euro area and seventh-biggest position in the world with its €189 billion ($277 billion) in assets under management.

BNP Paribas’ assets have been boosted by the bank’s acquisition of parts of Fortis, the Dutch-Belgian banking and insurance group that also contained a large wealth management operation. The acquisition has helped to drive BNP up the rankings in terms of wealth management assets.