BNP Paribas
Encyclopedia
BNP Paribas S.A. is a global banking
group, headquartered in Paris
, with its second global headquarters in London. In October 2010 BNP Paribas
was ranked by Bloomberg
and Forbes
as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000. In April 2009, BNP Paribas purchased a 75 percent stake in Fortis Bank, the Belgian banking business, making BNP the eurozone
's largest bank by deposits held.
BNP Paribas escaped the 2007–09 credit crisis relatively unscathed reporting a €3bn net profit for the year of 2008, and €5.8 for 2009, both years boosted by profits from trading in its BNPPCIB
(Corporate and Investment Banking) division. BNP Paribas has one of the highest credit rating
s in its peer group with the long term debt of the group currently ranked AA by S&P, Aa2 by Moody's
and AA- by Fitch
.
The firm is a universal bank
split into three strategic business units: Retail Banking, Corporate & Investment Banking
, and Investment Solutions (which includes Asset Management, custodial banking, and real estate services.)
BNP Paribas's four domestic markets are France, Italy, Belgium
and Luxembourg
. It also has significant retail operations in the United States, Poland, Turkey
, Ukraine and North Africa, as well as large scale investment banking operations in New York, London, Hong Kong, and Singapore
.
, while his brother Jonathan Raphaël created a branch in Antwerp in 1827 before settling in Brussels
in 1836. Having married the daughter of Frankfurt
banker Hayum-Salomon Goldschmidt, Louis-Raphaël Bischoffsheim established the Bischoffsheim-Goldschmidt bank in Paris in 1846, then in London in 1860. In 1863 he merged these banks with the Banque de Crédit et de Dépôt des Pays-Bas, which he had founded in Amsterdam: the Bichoffsheim family thereby established a powerful multinational banking conglomerate.
Additionally in 1869, a group of bankers and investors including Adrien Delahante, Edmond Joubert and Henri Cernuschi, with the private bankers Eugène Goüin (Tours
), E. Fould, E. et A. Schnapper Stern (Paris
), Brugmann (Bruxelles), Tietgen (Copenhague), founded the Banque de Paris, with its headquarters near the Opera at 3 rue d'Antin, Paris.
After the end of World War II, the French State decided to "put banks and credit to work for national reconstruction". René Pleven, then Minister of Finance, launched a massive reorganization of the banking industry. A law passed on 2 December 1945 redefined the regulatory framework governing the industry and decreed the nationalization of the Banque de France and the four leading French retail banks: BNCI, CNEP, Crédit Lyonnais
and Société Générale
. It went into effect on 1 January 1946.
Shares in these companies were transferred to the French State, which assumed complete ownership of the financial institutions. The boards of directors were dissolved and twelve new directors were appointed at each bank. BNCI and CNEP were merged in 1966 to form BNP.
BNP was re-privatised in 1993.
Originally the Compagnie Financière de Paris et des Pays-Bas (Finance Corporation of Paris and the Netherlands), the Compagnie Financière de Paribas became simply Paribas in 1998 after acquiring the Compagnie Bancaire. Claude de Kemoularia
was an important executive in the bank in the 1960s and 1970s.
In 1999, BNP and Société Générale
fought a complex battle on the stock market, with Société Générale bidding for Paribas and BNP bidding for Société Générale and counter-bidding for Paribas. BNP's bid for Société Générale failed, while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later on 22 May 2000.
On 9 August 2007, BNP Paribas became the first major financial group to acknowledge the impact of the sub-prime crisis by closing two funds exposed to it. This day is now generally seen as the start of the credit crisis and the bank's quick reaction saved it from the fate of other large European banks such as UBS.
On 6 October 2008, BNP took over 75% of troubled bank Fortis
' activities in Belgium
, and 66% in Luxembourg
, in exchange for the Belgian government becoming the new group's major shareholder. The sales of the Fortis shares was suspended by a court order from the Court of Appeal on Friday the 12 December
On 14 December 2008, BNP announced it could lose €350 million as a victim of the Madoff fraud
.
In the end of January, the Belgian government and BNP negotiated for a 75% partnership in Fortis Bank Belgium. Fortis Insurance Belgium would be reintegrated in Fortis Holding.
On 11 February, Fortis' shareholders decided that Fortis Bank Belgium and Fortis Insurance Belgium should not become property of BNP Paribas. However the acquisition was completed and BNP Paribas took 75% share holding and renamed the new subsidiary BNP Paribas Fortis
. After this only Fortis Insurance International was left in Fortis Holding and this was renamed as Ageas
, a business that had Insurance all over Europe and Asia. The remaining Fortis Bank Netherlands was in the hands of the Dutch Government which merged it with other ABN AMRO holdings it already owned under the name ABN AMRO
.
In May 2009, BNP Paribas became the majority shareholder (65.96%) of BGL (formerly Fortis Bank Luxembourg), the State of Luxembourg retaining 34%. On 21 September, the bank's registered name was changed to BGL BNP Paribas
and in February 2010, BGL BNP Paribas became the 100% owner of BNP Paribas Luxembourg. The transfer was finalised on 1 October 2010 with the incorporation of BNP Paribas Luxembourg's business in the operational platforms of BGL BNP Paribas.
, and Belgium
(as BNP Paribas Fortis
). The group also owns an American subsidiary BancWest which operates as Bank of the West
in the western United States and First Hawaiian Bank
in Hawaii. BNP Paribas's Europe Mediterranean group also runs large retail banks in Poland, Turkey, Ukraine, and northern Africa.
BNP Paribas is the largest bank in the Eurozone
by total assets and second largest by market capitalization according to The Banker
magazine, just behind Banco Santander. It employs over 201,000 people, according to the bank as of 31 December 2009, of which 80,000 work in Europe, and maintains a presence in 87 countries.
and First Hawaiian Bank
. Bank of the West operates in 19 Western US states (where it ranks as the 7th largest bank by assets), while First Hawaiian
is Hawaii's leading bank with a 40% market share in deposits. Together the two banks operate 710 branches, and service 5 million clients.
The two banks were merged into BancWest 1998, and BNP Paribas took full control of the combined entity in 2001.
The group has a strong presence on niche markets such as lending for marine and recreational vehicles, church lending, and agribusiness. In 2009 BancWest had €2.1 billion in revenues (5.2% of the total group's), and 11,200 employees (5.5% of the total group's headcount). BancWest lost €223 millon in 2009 largely due to its exposure in the subprime mortgage crisis
in California, Arizona
, and Nevada
.
.
The EM group includes:
BNP Paribas is a member of the Global ATM Alliance
, a joint venture of several major international banks that allows customers of the banks to use their ATM
card or check card
at another bank within the Global ATM Alliance with no ATM surcharges when traveling internationally. Other participating banks are Barclays (United Kingdom), Bank of America
(United States), China Construction Bank
(China), Deutsche Bank
(Germany), Santander Serfin (Mexico
), UkrSibbank
(Ukraine
), Scotiabank
(Canada) and Westpac
(Australia and New Zealand).
, structured finance
, and project finance
.
The firm is divided into 6 key business areas:
In 2009 BNP CIB earned €12.2 billion in revenue (30% of total group's), 4.4 billion in pre-tax income (48.9% of total group's), and 18,000 employees (9.0% of total group's headcount.)
activities.
On 11 June 2008, BNP Paribas formally signed the final terms of an agreement to purchase the Prime Brokerage Services division of Bank of America Securities. The sale is widely believed to be completed by the end of the 3rd Quarter, 2008.
City Commercial Bank, a Chinese official and state press reports said. "BNP is going to sign a deal with us to buy a stake next month," an official from Nanjing City Commercial told AFP. The Shanghai-based Oriental Morning Post said BNP would pay up to US$100 million, although the bank official said the figure was incorrect. He declined to give further details. The French newspaper La Tribune
reported in August 2005 that BNP Paribas had talked to four Chinese commercial banks—Ningbo, Wuxi, Nanjing and Suzhou—and was prepared to invest US$50–100 million. "We've talked to different financial institutions, but only BNP showed its good faith. It was not easy for us to reach an agreement," the Nanjing City Commercial Bank official said. BNP Paribas refused to comment. The International Financial Corporation, the investment arm of the World Bank
, already owns 15 percent of Nanjing City Commercial Bank, which has regulatory approval to list on the country's domestic stock market
s.
stadium since 1971
, including extra fees during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.
On 19 January 2011 BNP sued Russian grain trader, OOO Rosinteragroservis, and its subsidiary OAO Kubankhlebprodukt, claiming $20 million in debts and penalties.
BNP Paribas is, according to Profundo, amongst banks, the biggest investor in the nuclear sector
, with more than € 13,5 billion in nuclear investments. On 23rd October 2011 Greenpeace
organised a protest against BNP Paribas in 24 French cities. Citigroup
and Barclays are shared second and third with over € 11,4 billion.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
group, headquartered in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, with its second global headquarters in London. In October 2010 BNP Paribas
BNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
was ranked by Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
and Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000. In April 2009, BNP Paribas purchased a 75 percent stake in Fortis Bank, the Belgian banking business, making BNP the eurozone
Eurozone
The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...
's largest bank by deposits held.
BNP Paribas escaped the 2007–09 credit crisis relatively unscathed reporting a €3bn net profit for the year of 2008, and €5.8 for 2009, both years boosted by profits from trading in its BNPPCIB
BNP Paribas CIB
BNP Paribas Corporate and Investment Banking is the global investment banking arm of BNP Paribas, the largest banking group in the world. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion...
(Corporate and Investment Banking) division. BNP Paribas has one of the highest credit rating
Credit rating
A credit rating evaluates the credit worthiness of an issuer of specific types of debt, specifically, debt issued by a business enterprise such as a corporation or a government. It is an evaluation made by a credit rating agency of the debt issuers likelihood of default. Credit ratings are...
s in its peer group with the long term debt of the group currently ranked AA by S&P, Aa2 by Moody's
Moody's
Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized...
and AA- by Fitch
Fitch Ratings
The Fitch Group is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings, Fitch Solutions and Algorithmics, are part of the Fitch Group....
.
The firm is a universal bank
Universal bank
A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank.The concept is most relevant in the United Kingdom and the United States, where historically there was a distinction drawn between pure investment banks and commercial banks. In...
split into three strategic business units: Retail Banking, Corporate & Investment Banking
BNP Paribas CIB
BNP Paribas Corporate and Investment Banking is the global investment banking arm of BNP Paribas, the largest banking group in the world. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion...
, and Investment Solutions (which includes Asset Management, custodial banking, and real estate services.)
BNP Paribas's four domestic markets are France, Italy, Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
and Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
. It also has significant retail operations in the United States, Poland, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
, Ukraine and North Africa, as well as large scale investment banking operations in New York, London, Hong Kong, and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
.
History
In the early 1820s Louis-Raphaël Bischoffsheim founded in his own name a private banking establishment in AmsterdamAmsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...
, while his brother Jonathan Raphaël created a branch in Antwerp in 1827 before settling in Brussels
Brussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
in 1836. Having married the daughter of Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
banker Hayum-Salomon Goldschmidt, Louis-Raphaël Bischoffsheim established the Bischoffsheim-Goldschmidt bank in Paris in 1846, then in London in 1860. In 1863 he merged these banks with the Banque de Crédit et de Dépôt des Pays-Bas, which he had founded in Amsterdam: the Bichoffsheim family thereby established a powerful multinational banking conglomerate.
Additionally in 1869, a group of bankers and investors including Adrien Delahante, Edmond Joubert and Henri Cernuschi, with the private bankers Eugène Goüin (Tours
Tours
Tours is a city in central France, the capital of the Indre-et-Loire department.It is located on the lower reaches of the river Loire, between Orléans and the Atlantic coast. Touraine, the region around Tours, is known for its wines, the alleged perfection of its local spoken French, and for the...
), E. Fould, E. et A. Schnapper Stern (Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
), Brugmann (Bruxelles), Tietgen (Copenhague), founded the Banque de Paris, with its headquarters near the Opera at 3 rue d'Antin, Paris.
After the end of World War II, the French State decided to "put banks and credit to work for national reconstruction". René Pleven, then Minister of Finance, launched a massive reorganization of the banking industry. A law passed on 2 December 1945 redefined the regulatory framework governing the industry and decreed the nationalization of the Banque de France and the four leading French retail banks: BNCI, CNEP, Crédit Lyonnais
Crédit Lyonnais
Crédit Lyonnais is a historic French bank. In the early 1990s it was the largest French bank, majority state-owned at that point. Crédit Lyonnais was the subject of poor management during that period which almost led to its bankruptcy in 1993...
and Société Générale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
. It went into effect on 1 January 1946.
Shares in these companies were transferred to the French State, which assumed complete ownership of the financial institutions. The boards of directors were dissolved and twelve new directors were appointed at each bank. BNCI and CNEP were merged in 1966 to form BNP.
BNP was re-privatised in 1993.
Originally the Compagnie Financière de Paris et des Pays-Bas (Finance Corporation of Paris and the Netherlands), the Compagnie Financière de Paribas became simply Paribas in 1998 after acquiring the Compagnie Bancaire. Claude de Kemoularia
Claude de Kemoularia
Claude de Kemoularia is a French citizen of Georgian descent whose career has been in the fields of banking and diplomacy. He served as Dag Hammarskjöld's personal assistant from 1957 to 1961. In the mid-1960s, he was a special advisor to Prince Rainier of Monaco. From the late 1960s to 1982, he...
was an important executive in the bank in the 1960s and 1970s.
In 1999, BNP and Société Générale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
fought a complex battle on the stock market, with Société Générale bidding for Paribas and BNP bidding for Société Générale and counter-bidding for Paribas. BNP's bid for Société Générale failed, while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later on 22 May 2000.
On 9 August 2007, BNP Paribas became the first major financial group to acknowledge the impact of the sub-prime crisis by closing two funds exposed to it. This day is now generally seen as the start of the credit crisis and the bank's quick reaction saved it from the fate of other large European banks such as UBS.
On 6 October 2008, BNP took over 75% of troubled bank Fortis
Fortis (finance)
Fortis N.V./S.A. was a company active in insurance, banking and investment management. In 2007 it was the 20th largest business in the world by revenue but after encountering severe problems in the financial crisis of 2008, most of the company was sold in parts, with only insurance activities...
' activities in Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, and 66% in Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
, in exchange for the Belgian government becoming the new group's major shareholder. The sales of the Fortis shares was suspended by a court order from the Court of Appeal on Friday the 12 December
On 14 December 2008, BNP announced it could lose €350 million as a victim of the Madoff fraud
Madoff investment scandal
The Madoff investment scandal broke in December 2008 when former NASDAQ chairman Bernard Madoff admitted that the wealth management arm of his business was an elaborate Ponzi scheme....
.
In the end of January, the Belgian government and BNP negotiated for a 75% partnership in Fortis Bank Belgium. Fortis Insurance Belgium would be reintegrated in Fortis Holding.
On 11 February, Fortis' shareholders decided that Fortis Bank Belgium and Fortis Insurance Belgium should not become property of BNP Paribas. However the acquisition was completed and BNP Paribas took 75% share holding and renamed the new subsidiary BNP Paribas Fortis
BNP Paribas Fortis
BNP Paribas Fortis is the commercial name of Fortis Bank S.A./N.V., an international bank with its focus in Belgium since the purchase of 75% of the shares of the bank by BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of Fortis...
. After this only Fortis Insurance International was left in Fortis Holding and this was renamed as Ageas
Ageas
Ageas N.V./S.A. is a multinational insurance company headquartered in Brussels, Belgium and Utrecht, Netherlands. Ageas is Belgium's largest insurer and operates in 14 countries worldwide...
, a business that had Insurance all over Europe and Asia. The remaining Fortis Bank Netherlands was in the hands of the Dutch Government which merged it with other ABN AMRO holdings it already owned under the name ABN AMRO
ABN AMRO
ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...
.
In May 2009, BNP Paribas became the majority shareholder (65.96%) of BGL (formerly Fortis Bank Luxembourg), the State of Luxembourg retaining 34%. On 21 September, the bank's registered name was changed to BGL BNP Paribas
BGL BNP Paribas
BGL BNP Paribas is a Luxembourg bank founded on 29 September 1919. Since May 2009, the bank has been a member of the BNP Paribas group...
and in February 2010, BGL BNP Paribas became the 100% owner of BNP Paribas Luxembourg. The transfer was finalised on 1 October 2010 with the incorporation of BNP Paribas Luxembourg's business in the operational platforms of BGL BNP Paribas.
Retail banking
Retail banking is BNP Paribas' largest business unit representing 45% of its 2009 revenues and employing 59% of the group's headcount. Its operations are concentrated in Europe, especially in the group's three domestic markets of France, Italy (where it operates as Banca Nazionale del Lavoro (BNL)Banca Nazionale del Lavoro
Banca Nazionale del Lavoro SpA is an Italian banking firm. Founded in 1913 as Istituto di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006...
, and Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
(as BNP Paribas Fortis
BNP Paribas Fortis
BNP Paribas Fortis is the commercial name of Fortis Bank S.A./N.V., an international bank with its focus in Belgium since the purchase of 75% of the shares of the bank by BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of Fortis...
). The group also owns an American subsidiary BancWest which operates as Bank of the West
Bank of the West
Bank of the West, is a commercial bank which sponsors the Bank of the West Classic professional tennis tournament, a U.S. Open series event.-History:Bank of the West began as Farmers National Gold Bank of San Jose, California, in 1874...
in the western United States and First Hawaiian Bank
First Hawaiian Bank
First Hawaiian Bank is a regional commercial bank headquartered in Honolulu, Hawaii at the First Hawaiian Center. It is a subsidiary of BancWest Corporation, which itself is a subsidiary of the French banking company, BNP Paribas...
in Hawaii. BNP Paribas's Europe Mediterranean group also runs large retail banks in Poland, Turkey, Ukraine, and northern Africa.
BNP Paribas is the largest bank in the Eurozone
Eurozone
The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...
by total assets and second largest by market capitalization according to The Banker
The Banker
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London...
magazine, just behind Banco Santander. It employs over 201,000 people, according to the bank as of 31 December 2009, of which 80,000 work in Europe, and maintains a presence in 87 countries.
Domestic markets
- France: BNP Paribas runs one of France's largest retail banking networks with 2,200 branches and over 3,200 ATMAutomated teller machineAn automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s. In Paris alone the bank has 187 agencies. BNP Paribas serves over 6 million French households and 60,000 corporate customers. In 2009 The French Retail Banking unit (FRB) had revenues of €6.1 billion (15.2% of total group's), income of €1.5 billion (15% of total group's), and employs 31,000 people (15.4% of total group's workforce)
- Italy: In 2006 BNP Paribas purchased Banca Banca Nazionale del Lavoro (BNL)Banca Nazionale del LavoroBanca Nazionale del Lavoro SpA is an Italian banking firm. Founded in 1913 as Istituto di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006...
, Italy's sixth largest bank at the time. In 2009 BNL had 810 branches in Italy, 2.5 million individual clients, and over 150,000 corporate clients. It grossed €2.9 billion in revenue (7.2% of the total group's) and €540 million of net income (9.3% of the total group's), and employs around 13,000 employees (6.5% of the total group's).
- Belgium: BNP Paribas acquired BNP Paribas FortisBNP Paribas FortisBNP Paribas Fortis is the commercial name of Fortis Bank S.A./N.V., an international bank with its focus in Belgium since the purchase of 75% of the shares of the bank by BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of Fortis...
when it acquired the retail banking assets of the Belgian lender FortisFortisFortis is a Latin word meaning "strong, sturdy, brave, manly, resolute", and in modern usage may refer to:* Aqua fortis, an alternate name for concentrated nitric acid...
in 2009. This deal also included Fortis's subsidiaries in Poland and Turkey, now grouped in the "Europe Mediterranean" division.
United States
In the United States, BNP Paribas owns BancWest, which in turn operates retail banking subsidiaries Bank of the WestBank of the West
Bank of the West, is a commercial bank which sponsors the Bank of the West Classic professional tennis tournament, a U.S. Open series event.-History:Bank of the West began as Farmers National Gold Bank of San Jose, California, in 1874...
and First Hawaiian Bank
First Hawaiian Bank
First Hawaiian Bank is a regional commercial bank headquartered in Honolulu, Hawaii at the First Hawaiian Center. It is a subsidiary of BancWest Corporation, which itself is a subsidiary of the French banking company, BNP Paribas...
. Bank of the West operates in 19 Western US states (where it ranks as the 7th largest bank by assets), while First Hawaiian
First Hawaiian Bank
First Hawaiian Bank is a regional commercial bank headquartered in Honolulu, Hawaii at the First Hawaiian Center. It is a subsidiary of BancWest Corporation, which itself is a subsidiary of the French banking company, BNP Paribas...
is Hawaii's leading bank with a 40% market share in deposits. Together the two banks operate 710 branches, and service 5 million clients.
The two banks were merged into BancWest 1998, and BNP Paribas took full control of the combined entity in 2001.
The group has a strong presence on niche markets such as lending for marine and recreational vehicles, church lending, and agribusiness. In 2009 BancWest had €2.1 billion in revenues (5.2% of the total group's), and 11,200 employees (5.5% of the total group's headcount). BancWest lost €223 millon in 2009 largely due to its exposure in the subprime mortgage crisis
Subprime mortgage crisis
The U.S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages....
in California, Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, and Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
.
Emerging markets
In 2009 BNP Paribas reorganized its retail banking divisions renaming its "Emerging Markets" group the "Europe Mediterranean" group. This change was made because after the integration of Fortis Bank's Polish and Turkish subsidiaries, BNP Paribas's emerging market activities are now heavily concentrated in Eastern Europe and the southern half of the Mediterranean basinMediterranean Basin
In biogeography, the Mediterranean Basin refers to the lands around the Mediterranean Sea that have a Mediterranean climate, with mild, rainy winters and hot, dry summers, which supports characteristic Mediterranean forests, woodlands, and scrub vegetation...
.
The EM group includes:
- Ukraine: UkrSibbankUkrSibbank«UkrSibbank» - full name Public joint-stock company “UkrSibbank”. It was registered on June 18, 1990. As of today, JSC «UkrSibbank» is the third largest bank of Ukraine, the second among foreign-owned banks, and acts as a financial supermarket....
is Ukraine's 3rd largest lender. - Turkey: Türk Ekonomi BankasıTürk Ekonomi BankasiTürk Ekonomi Bankası , abbreviated TEB, was founded in 1927 by private investors as a regional bank under the name of Kocaeli Bankası T.A.Ş. in İzmit, Turkey....
, Fortis Turkey - Morocco: BMCIBMCIBMCI is a bank based in Morocco. It's a subsidiary of the French financial group BNP Paribas....
and - Libya: Sahara Bank
- Poland: BNP Paribas FortisBNP Paribas FortisBNP Paribas Fortis is the commercial name of Fortis Bank S.A./N.V., an international bank with its focus in Belgium since the purchase of 75% of the shares of the bank by BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of Fortis...
Poland - Egypt: BNP Paribas Egypt
BNP Paribas is a member of the Global ATM Alliance
Global ATM Alliance
The Global ATM Alliance is a joint venture of several major international banks that allows customers of their banks to use their ATM card or debit card at another bank within the Global ATM Alliance with no International ATM Access fees. However, other fees, such as an international transaction or...
, a joint venture of several major international banks that allows customers of the banks to use their ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
card or check card
Check card
The term check card can refer to:* An identification card issued by a retailer allowing the holder to tender payment by check. Such cards were commonly issued in the United States by supermarkets and other retailers before the widespread use of debit cards....
at another bank within the Global ATM Alliance with no ATM surcharges when traveling internationally. Other participating banks are Barclays (United Kingdom), Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
(United States), China Construction Bank
China Construction Bank
China Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
(China), Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
(Germany), Santander Serfin (Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
), UkrSibbank
UkrSibbank
«UkrSibbank» - full name Public joint-stock company “UkrSibbank”. It was registered on June 18, 1990. As of today, JSC «UkrSibbank» is the third largest bank of Ukraine, the second among foreign-owned banks, and acts as a financial supermarket....
(Ukraine
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
), Scotiabank
Scotiabank
The Bank of Nova Scotia , commonly known as Scotiabank , is the third largest bank in Canada by deposits and market capitalization. It serves some 18.6 million customers in more than 50 countries around the world and offers a broad range of products and services including personal, commercial,...
(Canada) and Westpac
Westpac
Westpac , is a multinational financial services, one of the Australian "big four" banks and the second-largest bank in New Zealand....
(Australia and New Zealand).
Corporate and investment banking
In addition to its retail activities, BNP Paribas is also a leading global investment bank through its Corporate & Investment Banking unit. Although present in all investment banking markets, it is recognized as a global leader in derivatives tradingDerivative (finance)
A derivative instrument is a contract between two parties that specifies conditions—in particular, dates and the resulting values of the underlying variables—under which payments, or payoffs, are to be made between the parties.Under U.S...
, structured finance
Structured finance
Structured finance is a broad term used to describe a sector of finance that was created to help transfer risk and avoid lawsStructured finance is a broad term used to describe a sector of finance that was created to help transfer risk and avoid laws...
, and project finance
Project finance
Project finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project sponsors...
.
The firm is divided into 6 key business areas:
- Fixed Income: BNP Paribas' fixed income team helps companies hedge their exposure to foreign exchange, interest rateInterest rate riskInterest rate risk is the risk borne by an interest-bearing asset, such as a loan or a bond, due to variability of interest rates. In general, as rates rise, the price of a fixed rate bond will fall, and vice versa...
, and credit riskCredit riskCredit risk is an investor's risk of loss arising from a borrower who does not make payments as promised. Such an event is called a default. Other terms for credit risk are default risk and counterparty risk....
s, primarily though the structuring and sale of derivativeDerivative (finance)A derivative instrument is a contract between two parties that specifies conditions—in particular, dates and the resulting values of the underlying variables—under which payments, or payoffs, are to be made between the parties.Under U.S...
products such as interest rate and foreign exchangeForex swapIn finance, a forex swap is a simultaneous purchase and sale of identical amounts of one currency for another with two different value dates .; see Foreign exchange derivative.-Structure:...
swaps, foreign exchange optionForeign exchange optionIn finance, a foreign-exchange option is a derivative financial instrument that gives the owner the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date.The FX options market is the deepest, largest and...
s and credit derivatives. It also trades in these markets on behalf of clients or for its own proprietaryProprietary tradingProprietary trading occurs when a firm trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments, with the firm's own money as opposed to its customers' money, so as to make a profit for itself...
account. On an average day, a quarter of a trillion dollars in fixed income instrumentsFixed incomeFixed income refers to any type of investment that is not equity, which obligates the borrower/issuer to make payments on a fixed schedule, even if the number of the payments may be variable....
are traded at BNP Paribas Americas’ fixed income trading floor located just blocks from the NASDAQNASDAQThe NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
MarketSite in ManhattanManhattanManhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
, New York City.
- Equity & Derivatives: BNP Paribas' Equity & Derivatives team helps companies manage their risks and investment portfoliosPortfolio (finance)Portfolio is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual.-Definition:The term portfolio refers to any collection of financial assets such as stocks, bonds and cash...
with equity derivatives such as options, futures, and swapsSwap (finance)In finance, a swap is a derivative in which counterparties exchange certain benefits of one party's financial instrument for those of the other party's financial instrument. The benefits in question depend on the type of financial instruments involved...
, as well as highly complex, customized solutions such as structured products. It also trades in these markets on behalf of clients or for its own proprietaryProprietary tradingProprietary trading occurs when a firm trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments, with the firm's own money as opposed to its customers' money, so as to make a profit for itself...
account.
- Commodity Derivatives: BNP Paribas' Commodity Derivatives team helps clients hedge their exposure to commodity riskCommodity riskCommodity risk refers to the uncertainties of future market values and of the size of the future income, caused by the fluctuation in the prices of commodities. These commodities may be grains, metals, gas, electricity etc...
though the structuring and sale of commodity futures and OTC commodity swapCommodity swapA commodity swap is an agreement where by a floating price based on an underlying commodity is exchanged for a fixed price over a specified period.A Commodity swap is similar to a Fixed-Floating Interest rate swap...
s. It also trades in these markets on behalf of its clients or proprietaryProprietary tradingProprietary trading occurs when a firm trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments, with the firm's own money as opposed to its customers' money, so as to make a profit for itself...
account.
- Investment Banking: BNP Paribas' Corporate Finance team performs most of the traditional investment bankingInvestment bankingAn investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
functions of the group including mergers and acquisitionsMergers and acquisitionsMergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
advisory, and equity raising operations such as Initial Public Offerings (IPOs)Initial public offeringAn initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
, rights issueRights issueA rights issue is an issue of additional shares by a company to raise capital under a seasoned equity offering. The rights issue is a special form of shelf offering or shelf registration. With the issued rights, existing shareholders have the privilege to buy a specified number of new shares from...
s, and convertible bond issues.
- Structured Finance: BNP Paribas' Structured Finance group offers clients project financeProject financeProject finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project sponsors...
solutions, export financingTrade financeTrade finance is related to international trade.While a seller can require the purchaser to prepay for goods shipped, the purchaser may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support...
, syndicated loanSyndicated loanA syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as arrangers....
s, and financing for acquisitions and leveraged buyouts.
- Corporate & Transaction Group: BNP Paribas' Corporate and Transaction group offers clients simplified flow banking services including trade financeTrade financeTrade finance is related to international trade.While a seller can require the purchaser to prepay for goods shipped, the purchaser may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support...
, international cash managementCash managementIn United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers...
, and basic hedgingHedge (finance)A hedge is an investment position intended to offset potential losses that may be incurred by a companion investment.A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts, swaps, options, many types of...
solutions.
In 2009 BNP CIB earned €12.2 billion in revenue (30% of total group's), 4.4 billion in pre-tax income (48.9% of total group's), and 18,000 employees (9.0% of total group's headcount.)
Investment solutions
BNP Paribas's "Investment Solutions" unit contains its asset management, custodial banking, real estate, insurance, online brokerage, "Personal Investors" and wealth managementWealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...
activities.
On 11 June 2008, BNP Paribas formally signed the final terms of an agreement to purchase the Prime Brokerage Services division of Bank of America Securities. The sale is widely believed to be completed by the end of the 3rd Quarter, 2008.
- Asset Management: The asset management activities of BNP Paribas are grouped into BNP Paribas Investment Partners. In 2009 BNP Paribas IP had 2,400 employees in more than 70 countries and 518 bllion of assets under management.
Events in 2005
On 23 September 2005, BNP Paribas was set to take a 20 percent stake in China's NanjingNanjing
' is the capital of Jiangsu province in China and has a prominent place in Chinese history and culture, having been the capital of China on several occasions...
City Commercial Bank, a Chinese official and state press reports said. "BNP is going to sign a deal with us to buy a stake next month," an official from Nanjing City Commercial told AFP. The Shanghai-based Oriental Morning Post said BNP would pay up to US$100 million, although the bank official said the figure was incorrect. He declined to give further details. The French newspaper La Tribune
La Tribune
La Tribune is a French financial newspaper that was founded in 1985. The paper is in tabloid format and has a circulation of around 78,000.- External links :**...
reported in August 2005 that BNP Paribas had talked to four Chinese commercial banks—Ningbo, Wuxi, Nanjing and Suzhou—and was prepared to invest US$50–100 million. "We've talked to different financial institutions, but only BNP showed its good faith. It was not easy for us to reach an agreement," the Nanjing City Commercial Bank official said. BNP Paribas refused to comment. The International Financial Corporation, the investment arm of the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
, already owns 15 percent of Nanjing City Commercial Bank, which has regulatory approval to list on the country's domestic stock market
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
s.
Major shareholders
- France (17%)
- Belgium (11.6%)
- AXAAXAAXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
insurance company - Customers
- Employees
- General Mediterranean HoldingsGeneral Mediterranean HoldingsThe General Mediterranean Holding is a financial holding company established in 1979 in Luxembourg City, in southern Luxembourg, founded by Anglo-Iraqi businessman Nadhmi Auchi....
Communication
BNP Paribas is one of the most important sponsors of the Tennis French Open in Roland GarrosStade Roland Garros
Le Stade de Roland Garros is a tennis venue located in Paris, France. It hosts the French Open tennis tournament , a Grand Slam event played annually in May and June. The facility was constructed in 1928 to host France's first defense of the Davis Cup...
stadium since 1971
Retail banking
- BNP Paribas France (more than 2 200 branches)
- Banque de Bretagne (France – BrittanyBrittanyBrittany is a cultural and administrative region in the north-west of France. Previously a kingdom and then a duchy, Brittany was united to the Kingdom of France in 1532 as a province. Brittany has also been referred to as Less, Lesser or Little Britain...
) - BancWest (Bank of the WestBank of the WestBank of the West, is a commercial bank which sponsors the Bank of the West Classic professional tennis tournament, a U.S. Open series event.-History:Bank of the West began as Farmers National Gold Bank of San Jose, California, in 1874...
& First Hawaiian BankFirst Hawaiian BankFirst Hawaiian Bank is a regional commercial bank headquartered in Honolulu, Hawaii at the First Hawaiian Center. It is a subsidiary of BancWest Corporation, which itself is a subsidiary of the French banking company, BNP Paribas...
in the USA) - BMCIBMCIBMCI is a bank based in Morocco. It's a subsidiary of the French financial group BNP Paribas....
(MoroccoMoroccoMorocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...
) - BNP Paribas Egypt (EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
) - Banca Nazionale del LavoroBanca Nazionale del LavoroBanca Nazionale del Lavoro SpA is an Italian banking firm. Founded in 1913 as Istituto di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006...
(BNL) (ItalyItalyItaly , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
) - Turk Ekonomi BankasiTürk Ekonomi BankasiTürk Ekonomi Bankası , abbreviated TEB, was founded in 1927 by private investors as a regional bank under the name of Kocaeli Bankası T.A.Ş. in İzmit, Turkey....
(TEB) (TurkeyTurkeyTurkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
) - BNP Paribas FortisBNP Paribas FortisBNP Paribas Fortis is the commercial name of Fortis Bank S.A./N.V., an international bank with its focus in Belgium since the purchase of 75% of the shares of the bank by BNP Paribas. It was formerly, together with Fortis Bank Nederland, the banking arm of Fortis...
(BelgiumBelgiumBelgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, Germany, PolandPolandPoland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
, Turkey) - BGL BNP ParibasBGL BNP ParibasBGL BNP Paribas is a Luxembourg bank founded on 29 September 1919. Since May 2009, the bank has been a member of the BNP Paribas group...
(LuxembourgLuxembourgLuxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
) - Sahara BankSahara BankThe Sahara Bank was established in 1964,designed by Italian Vincenzo Maria Morici.On 22 December 1970, the Revolutionary Command issued another law "the Nationalization Decision" which demanded that all the foreign banks shares were nationalized and became completely owned by Libya.Sahara Bank is...
(LibyaLibyaLibya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
) - UkrSibbankUkrSibbank«UkrSibbank» - full name Public joint-stock company “UkrSibbank”. It was registered on June 18, 1990. As of today, JSC «UkrSibbank» is the third largest bank of Ukraine, the second among foreign-owned banks, and acts as a financial supermarket....
(UkraineUkraineUkraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
) - BCI Mer Rouge DjiboutiDjiboutiDjibouti , officially the Republic of Djibouti , is a country in the Horn of Africa. It is bordered by Eritrea in the north, Ethiopia in the west and south, and Somalia in the southeast. The remainder of the border is formed by the Red Sea and the Gulf of Aden at the east...
- Banque de Wallis et Futuna
- Banque Internationale pour le Commerce et l'Industrie du Sénégal (SenegalSenegalSenegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north...
)
Other subsidiaries
- BNPPCIBBNP Paribas CIBBNP Paribas Corporate and Investment Banking is the global investment banking arm of BNP Paribas, the largest banking group in the world. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion...
– BNP Paribas Corporate and Investment Banking - AtisrealAtisrealAtisreal was a European commercial property consultancy company and subsidiary of BNP Paribas with around 2,600 employees in 51 cities. Its headquarters were in Levallois-Perret, France...
renamed BNP Paribas Real EstateBNP Paribas Real EstateBNP Paribas Real Estate is a specialised division of the financial services group BNP Paribas. The company is present in 31 countries across the globe through owned delegations and alliances.... - BNP Paribas Arbitrage
- BNP Paribas Assurances with CardifCardifCardif is an international insurance company with a presence in the Netherlands. The company is part of the BNP Paribas Group.-Origin:Cardif is a branch of the French insurance company BNP Paribas Assurance, founded in 1973. Today, Cardif’s global operations represent the world’s second largest...
, PinnaclePinnacleA pinnacle is an architectural ornament originally forming the cap or crown of a buttress or small turret, but afterwards used on parapets at the corners of towers and in many other situations. The pinnacle looks like a small spire... - BNP Paribas Asset Management
- BNP Paribas Primebrokerag
- BNP Paribas Leasing Solutions with ArvalArvalArval may refer to:*The Arval Brethren, a body of priests in ancient Rome*Arvals, a funeral dinner; also a cake served at such feasts, a United States Navy patrol vessel in commission from 1917 to 1919...
, car leasing and Artegy - BNP Paribas Real EstateBNP Paribas Real EstateBNP Paribas Real Estate is a specialised division of the financial services group BNP Paribas. The company is present in 31 countries across the globe through owned delegations and alliances....
- BNP Paribas Securities Services
- BNP Paribas Wealth Management with Isinger de Beaufort, BNP Paribas Private Banking
- Cetelem
- LaSer UKLaSer UKLaSer UK is a provider of credit and loyalty programmes, operating in the UK and Republic of Ireland markets. The company operates credit and loyalty programmes for business partners across multiple sectors – including retail, household, insurance, entertainment & leisure.LaSer UK manages more...
with Cofinoga - CortalConsors
- FundQuest
- SBI Life Insurance Company LimitedSBI Life Insurance Company LimitedSBI Life Insurance is a joint venture life insurance company between State Bank of India , the largest state-owned banking and financial services company in India, and BNP Paribas Assurance. SBI owns 44% of the total capital and BNP Paribas Assurance the remaining 26% and others 30%...
a joint venture insurance company with State Bank of IndiaState Bank of IndiaThe State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
, India's largest financial service company, owned by the government of India - Geojit (Geojit BNP Paribas Financial Services Ltd.)
- L'Atelier
- Creation Consumer Finance
- Lafayette Services
- BNP Paribas Personal Investors Luxembourg
- SAIB-BNP Paribas Asset Management
Business
- Boris Adlam – British financier
- Nassim TalebNassim TalebNassim Nicholas Taleb is a Lebanese American essayist whose work focuses on problems of randomness and probability. His 2007 book The Black Swan was described in a review by Sunday Times as one of the twelve most influential books since World War II....
– practitioner of financial mathematicsMathematical financeMathematical finance is a field of applied mathematics, concerned with financial markets. The subject has a close relationship with the discipline of financial economics, which is concerned with much of the underlying theory. Generally, mathematical finance will derive and extend the mathematical...
Politics and public service
- Louis Alphonse of Bourbon, Duke of AnjouLouis Alphonse, Duke of AnjouPrince Louis Alphonse of Bourbon, Duke of Anjou was not originally among his given names ; born 25 April 1974, Madrid) is a member of the historically royal dynasty of the House of Bourbon, and one of the current pretenders to the defunct crown of France...
– considered by royalists as the head of the French Royal House. - Jacques de LarosièreJacques de LarosièreJacques de Larosière de Champfeu is a French civil servant. He is the Chairman of the Strategic Committee of the French Treasury and Advisor to BNP Paribas, became President of the London-based European Bank for Reconstruction and Development in September 1993 in the wake of the scandals that led...
– managing director of the International Monetary Fund (1978–87); Governor of the Banque de France (1987–93) - Lorenz of Habsburg, Archduke of Austria-Este
Other
- David McWilliamsDavid McWilliamsDavid McWilliams is an Irish journalist and economist. McWilliams has worked with as an economist with Central Bank of Ireland and as a banker with UBS bank and the Banque Nationale de Paris...
– economist - Georges Chodron de Courcel – Managing Director, from the family of Mrs. Bernadette ChiracBernadette ChiracBernadette Thérèse Marie Chirac is a French politician and the wife of the former President Jacques Chirac....
- Edmond Turquieh – founder of Sapiance Capital Ltd
Controversy
In 2010 the French government's Autorité de la concurrence fined BNP and 10 other banks 384 million Euros for colluding to charge unjustified fees on check processingFrench check processing fee controversy of 2010
In 2010 the French government's Autorité de la concurrence fined eleven banks €384,900,000 for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer...
, including extra fees during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.
On 19 January 2011 BNP sued Russian grain trader, OOO Rosinteragroservis, and its subsidiary OAO Kubankhlebprodukt, claiming $20 million in debts and penalties.
BNP Paribas is, according to Profundo, amongst banks, the biggest investor in the nuclear sector
Nuclear power
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...
, with more than € 13,5 billion in nuclear investments. On 23rd October 2011 Greenpeace
Greenpeace
Greenpeace is a non-governmental environmental organization with offices in over forty countries and with an international coordinating body in Amsterdam, The Netherlands...
organised a protest against BNP Paribas in 24 French cities. Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
and Barclays are shared second and third with over € 11,4 billion.
See also
- List of investment banks
- List of French companies
- List of banks
- Primary dealersPrimary dealersPrimary dealer is a formal designation of a firm as a market maker of government securities. Primary dealer systems are present in many countries including Canada, France, Italy, Spain, the United Kingdom, and the United States...
- European Financial Services RoundtableEuropean Financial Services RoundtableThe European Financial Services Roundtable is a European organization, located in Brussels, Belgium, of financial service companies to provide a voice on policies of the European Union related to financial matters...
- AngolagateAngolagateAngolagate, also known as the Mitterrand-Pasqua affair, is an international political scandal over the secret sale and shipment of arms from Central Europe to the government of Angola by the Government of France in the 1990s...