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{{Infobox_Company | company_name = BNP Paribas |
company_logo = ] |
company_type = [Public company ({{euronext|BNP-->, {{tyo|8665-->)|
company_slogan = La banque d'un monde qui change / The Bank for a changing world |
foundation =
May 23 [|
location = [Paris, [France|
key_people = [Baudouin Prot, CEO
[Michel Pébereau, Chairman|
num_employees = 138,000 (
)|
industry = [Finance and Insurance|
products = [Financial Services|
net_income = {{profit--> 7.30 billion Euro ([)|
homepage =
http://www.bnpparibas.com/ www.bnpparibas.com
-->
BNP Paribas (, ) is one of the main banks in
Europe and
France. It was created on 23 May
2000 through the merger of
Banque Nationale de Paris (BNP) and
Paribas. Together with
Société Générale and Crédit Lyonnais now
LCL, it is part of the "three old" banks of France. It is part of the CAC 40.
On
9 August 2007 BNP Paribas announced that it could not fairly value the underlying assets in three funds as a result of exposure to U.S. subprime lending mortgage lending markets." BNP Paribas Investment Partners temporally suspends the calculation of the Net Asset Value of the following funds: Parvest Dynamic ABS, BNP Paribas ABS EURIBOR and BNP Paribas ABS EONIA",
BNP Paribas, 09 August 2007 Faced with potentially massive (though unquantifiable) exposure, the European Central Bank (ECB) immediately stepped in to ease market worries by opening lines of €96.8 billion (US$130 billion) in low-interest credit." Big French Bank Suspends Funds",
New York Times, 09 August 2007The long term debt of the group is currently ranked
AA+ by
S&P,
Aa1 by
Moody's and
AA by Fitch Ratings.http://www.fitchratings.com/corporate/ratings/issuer_content.cfm?issr_id=80359629 Fitch ratings
History
BNP is a bank of Rothschild Family.BNP was created in 1966 by the merger of
Banque Nationale du Commerce et de l'Industrie (BNCI) and
Conservatoire National d'Escompte de Paris (CNEP). BNP was 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. The original deviser of the name Paribas is the Flemish artist and entrepreneur
Bobbejaan Schoepen, who invented the name in the beginning of the 60s.
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.
Until 2001, all
Iraqi oil revenues from the Oil for Food program were held in an escrow account run solely by BNP Paribas. Later, the money was held by several unnamed international banks.
Activity
Profile
BNP Paribas is the largest bank in the
Eurozone by total assets and second largest by market capitalization according to
The Banker magazine. It employs 140,000 people, of which 80,000 work in Europe, and maintains a presence in 87 countries. The bank is active in the finance, investment and asset management markets.
In France, BNP Paribas is active in retail banking with 2,200 branches and over 3,200 ATM machines. BNP Paribas serves over 6 million French households and 60,000 corporate customers.
In the United States, BNP Paribas owns
Bank of the West. It also has investment banking capabilities via their BancWest subsidiary. In particular they are strong in equity derivatives, structured products and project finance. In addition, BNP Paribas maintains a strong middle market merchant banking group. This group focuses on providing leveraged acquisition finance to private equity sponsored leveraged buyouts, both through senior secured syndicated loans, high yield bond offerings, equity co-investment, and mezzanine financing.
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 Automated teller machine card or
check card at another bank within the Global ATM Alliance with no fees 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), Scotiabank (Canada) and
Westpac (Australia and
New Zealand). "Five big banks form Global ATM Alliance", ATMmarketplace.com.
January 9, 2002. Accessed
June 22, 2007.
Events in 2005
- On September 23, 2005, BNP Paribas is set to take a 20 percent stake in China's Nanjing City Commercial Bank, a Chinese official and state press reports said on Friday. "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 last month 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 markets.
Major shareholders
- AXA insurance company
- Customers
- Employees
- General Mediterranean Holdings
Subsidiaries
Notable current and former employees
Business
Politics and public service
- Louis Alphonse, Duke of Anjou - considered by royalists as the head of the French Royal House.
- Jacques de Larosière - managing director of the International Monetary Fund (1978-87); Governor of the Banque de France (1987-93)
Other
See also
References
External links