New York / Paris — October 20, 2025.
Shares of French banking giant BNP Paribas fell sharply on Monday after a United States federal jury found the lender liable for aiding Sudan’s government in committing genocide and human rights abuses by providing illegal financial services. The verdict has sparked fears of wider litigation that could involve tens of thousands of Sudanese refugees seeking compensation.

US Jury Awards $20.5 Million to Sudanese Plaintiffs

A Manhattan federal jury on Friday ordered BNP Paribas to pay $20.5 million to three Sudanese plaintiffs who testified that they suffered persecution and violence under former President Omar al-Bashir’s regime. The jury concluded that BNP Paribas, through its banking operations, violated US sanctions by facilitating financial transactions that helped fund Sudan’s security apparatus during the height of the country’s atrocities.

The Paris-based bank announced it would appeal the verdict, calling it “clearly wrong” and arguing that key evidence proving its compliance efforts “was not permitted to be introduced” during the trial.

Shares Tumble as Investors Fear Broader Fallout

The ruling immediately rattled investors. BNP Paribas shares plunged nearly 10 percent in early New York trading — their steepest one-day decline since March 2023 — before recovering slightly to close down 8.7 percent.

Market analysts say the drop reflects uncertainty over whether more lawsuits or regulatory actions could follow. “The verdict raises concerns about potential exposure to billions in additional claims,” said traders at RBC Capital Markets. “Until there’s visibility on next steps, the stock will likely remain under pressure.”

BNP Paribas insisted that the case “applies only to these three plaintiffs” and warned that “any attempt to extrapolate the ruling” to other cases would be “misguided.” However, lawyers representing the plaintiffs hailed the decision as a landmark ruling that could pave the way for over 20,000 Sudanese refugees in the US to file similar claims.

A New Legal Chapter in BNP Paribas’s Sanctions History

This is not the first time BNP Paribas has faced penalties over Sudan. In 2014, the bank pleaded guilty to violating US sanctions and agreed to pay a record $8.97 billion fine after admitting to processing billions of dollars in transactions for clients in Sudan, Iran, and Cuba.

Analysts at RBC noted that BNP Paribas’s shares underperformed the sector by 10 percent during that 2014 litigation period. “This new case revives uncomfortable memories,” the analysts said. “With limited capital flexibility and lingering questions over legal exposure, investor confidence may remain subdued.”

Human Rights Implications and Global Reaction

Human rights groups have long accused Western financial institutions of enabling Sudan’s atrocities, including the genocide in Darfur. The US jury’s decision marks the first time a global bank has been found civilly liable by an American court for aiding human rights violations tied to Sudan’s former regime.

“This verdict sends a powerful message: banks can no longer hide behind compliance loopholes when their money fuels mass violence,” said Rebecca Miller, a lawyer for the plaintiffs. “Our clients’ courage has opened the door for thousands more Sudanese survivors to seek justice.”

BNP Paribas, meanwhile, continues to stress that it has since strengthened its compliance systems, exited all sanctioned markets, and implemented what it calls “one of the world’s most robust anti-money-laundering frameworks.”

Investors Seek Clarity as Legal Risks Mount

The verdict has sparked discussions among European regulators about possible reputational and financial implications for BNP Paribas and the broader banking sector. Analysts warn that even if the damages awarded remain modest, legal uncertainty could persist for months while the appeals process unfolds.

“A combination of limited capital headroom, uncertainty over potential settlements, and memories of the 2014 case are likely to hang over the stock,” RBC Capital Markets said. “Visibility is key — until investors know the full financial impact, caution will dominate.”

For now, BNP Paribas faces not only market turbulence but also renewed scrutiny of its historical operations in conflict-ridden nations — a reminder that the consequences of past actions can echo decades later.