PARIS (AP) — French bank BNP Paribas will stop operating in countries considered tax havens, CEO Baudouin Prot said yesterday.

In an interview with French radio station Europe 1, Prot said BNP "will have no more activity" in countries on the "grey list" of nations that the Organisation for Economic Cooperation and Development says haven't signed on to international tax information exchange rules.

BNP spokeswoman Christelle Maldague said the decision would apply to BNP branches in Panama and the Bahamas. The bank has six branches between the two countries, another BNP spokeswoman said yesterday.

The OECD released a so-called gray list of countries earlier this year that have not signed on to international tax information exchange rules. Switzerland last week became the 12th country to accept the rules and move to the "white list."

The OECD said yesterday the organisation is not aware of any other major banks that are closing branches in countries on the "grey list".

Prot said BNP would from now on list in its annual reports where it has activities abroad.