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BNP Paribas

BNP Paribas (sometimes referred to as BNPP or BNP) is a multinational universal bank and financial services holding company headquartered in Paris, France. It was founded in 2000 from the merger of two of France's foremost financial institutions, Banque Nationale de Paris (BNP) and Paribas.[5] It also incorporates many other major institutions from successive mergers and acquisitions, including Fortis Group (and through it, the Générale de Banque, ASLK / CGER and Nationale Maatschappij voor Krediet aan de Nijverheid/Société Nationale de Crédit à l'Industrie) in Belgium, Direkt Anlage Bank in Germany, Banca Nazionale del Lavoro in Italy, Banque Générale du Luxembourg in Luxembourg, and Türk Ekonomi Bankası in Turkey. The Group has also been present in the United States through its subsidiaries Bank of the West until 2023 and First Hawaiian Bank until 2019. With 190,000 employees, the bank is organized into three major business areas: Commercial, Personal Banking & Services (CPBS); Investment & Protection Services (IPS); and Corporate & Institutional Banking (CIB).

BNP Paribas
The headquarters of BNP Paribas in Paris
Company typePublic
Euronext Paris: BNP
LSE: 0HB5
CAC 40 component (BNP)
IndustryFinancial services
Founded
Headquarters20 Boulevard des Italiens
Paris, France
Area served
Worldwide
Key people
Jean Lemierre (President and Chairman)
Jean-Laurent Bonnafé (CEO)
Products
Revenue 50.4 billion (2022)[4]
€13.7 billion (2022)[4]
€10.2 billion (2022)[4]
Total assets €2.67 trillion (2022)[4]
Total equity €122 billion (2022)[4]
Number of employees
190,000 (2022)[4]
Divisions
List
Subsidiaries
Websitegroup.bnpparibas/en/

BNP Paribas is listed on Euronext Paris and a component of the Euro Stoxx 50 stock market index.[6] It is the largest banking group in Europe, and ninth-largest banking group in the world by assets.[7] It became one of the five largest banks in the world following the 2008 financial crisis.[8] It is considered a systemically important bank by the Financial Stability Board.[9] In the Forbes Global 2000, BNP Paribas was ranked as the 33rd largest public company in the world.[10] It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[11][12]

Even though BNP Paribas is often referred to as a French bank,[13] the Belgian government is a significant shareholder with 5.3 percent equity ownership (as of mid-2023),[14] and the bank's oldest significant predecessor entity is the Société Générale de Belgique established in 1822.[15]

History edit

 
Former headquarters of Banca Nazionale del Lavoro in Rome
 
BNP Paribas London Trading Floor

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 23 May 2000.

In 2006, BNP Paribas purchased Banca Nazionale del Lavoro (BNL), Italy's sixth-largest bank. 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.[16][17]

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, 12 December[18][19][20] 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.[21]

On 11 February, Fortis' shareholders decided that Fortis Bank Belgium and Fortis Insurance Belgium should not become the property of BNP Paribas. However, the acquisition was completed, and BNP Paribas took 75% shareholding 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. In April 2024, it was announced BNP Paribas had acquired Fosun International's entire 9% stake in Ageas, worth €730 million.[22] 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% making BNP the eurozone's largest bank by deposits held.[23] 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.[24] In 2013 BNP Paribas was awarded the Bank of the Year award by The International Financing Review ("IFR"), Thomson Reuters' leading financial industry publication.[25][26][27]

BNP Paribas reached an agreement in December 2013 to acquire Rabobank's Polish unit BGZ Bank for around $1.4 billion.[28] In September 2014, BNP completed the purchase of BGZ Bank for a final fee stated in the media to be $1.3 billion.[29][30][31] In December 2021, BNP Paribas announced to exit US retail banking business by selling its Bank of the West to the Bank of Montreal for $16.3bn.[32]

BNP Paribas has around $80 billion under management in Asia by 2024. The bank has hired 20 private bankers, including Tiffeny Situ from Morgan Stanley, Wendy Chan from Citigroup and Martin Loh from Credit Suisse Group, as part of its expansion program.[33]

Financial data edit

 
Français - BNP Paribas locations

In 2022, total revenues of €50.4 billion represent an increase of 9% compared to 2021, BNP Paribas remains at the top of the French banks' ranking in terms of activity. During this year, BNP Paribas Group net income attributable to equity holders increased to 7.5% (to 10.2 billion euros). The geographic breakdown of Net Banking Income (NBI) at the end of 2020 is as follows: Europe (72.2%), North America (12.9%), Asia Pacific (8.6%) and others (6.3%).[34]

Financial data in € billions[35]
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Revenue 38.822 39.168 42.938 43.411 43.161 42.516 44.597 44.275 46.235 50.419
Net Income 5.439 0.507 7.044 8.115 8.207 7.526 8.173 7.067 9.488 10.196
Assets 1,800.139 2,077.759 1,994.193 2,076.959 1,960.252 2,041 2,165 2,488 2,634 2,666
Employees 185,000 188,000 189,000 192,000 196,000 203,000 199,000 193,000 190,000 190,000

Corporate identity edit

 
Français : BNP Paribas logo
 
Design BNP Paribas par Laurent Vincenti pour A&Co

The BNP Paribas logo since 2000 (designed by Laurent Vincent under the leadership of the Communications Director, Antoine Sire) is called the "courbe d'envol" (curve of taking flight). The stars allude to Europe and universality. The transformation of the stars into birds conveys openness, freedom, growth, and the ability to change and adapt. The shape and movement of the curve places the logo in the universe of life. The green square symbolises nature and optimism.[36]

Corporate structure edit

Executive Committee edit

The General Management and the executive committee are composed as follows:

  • Jean-Laurent Bonnafé, Director and chief executive officer of BNP Paribas
  • Yann Gérardin, directeur général délégué, chief operating officer, Corporate & Institutional Banking
  • Thierry Laborde, directeur général Délégué, chief operating officer, Retail Banking
  • Laurent David, Deputy chief operating officer
  • Renaud Dumora, Deputy chief operating officer, Investment & Protection Services
  • Marguerite Bérard, Head of French Retail Banking
  • Stefaan Decraene, Head of International Retail Banking
  • Charlotte Dennery, Director and chief executive officer of BNP Paribas Personal Finance
  • Bernard Gavgani, chief information officer
  • Elena Goitini, chief executive officer of BNL
  • Stephanie Maarek, Head of Compliance
  • Max Jadot, CEO and chairman of the executive board of BNP Paribas Fortis.
  • Yannick Jung, Head of Corporate & Institutional Banking Global Banking EMEA

Board of directors edit

As of 17 May 2021[37]

 
Jean Lemierre, Senior Adviser to the chairman, BNP Paribas Group, France, at the World Economic Forum on Europe and Central Asia in Istanbul, 30 October - 1 November 2008

Major shareholders edit

As of 31 December 2023[38]

  • European institutional investors (37.7%)
  • Non-European institutional investors (32.5%)
  • BlackRock Inc. (6.9%)
  • Belgian State (through SFPI) (5.5%)
  • Amundi (5.4%)
  • Retail shareholders (5.9%)
  • Employees (5.0%)
  • Grand Duchy of Luxembourg (1.1%)

Main subsidiaries edit

Retail banking edit

 
Italian Headquarters in Milan
 
Orizzonte Europa, BNL Headquarters in Rome subsidiary of BNP Paribas

Other subsidiaries edit

 
Consorsbank
 
Sharekhan after acquisition by BNP Paribas

Divisions edit

BNP Paribas CIB edit

BNP Paribas CIB
 
 
The Maison dorée, home to Parisian operations of BNP Paribas CIB, with the registered office of BNP Paribas in the background
Company typeSubsidiary of BNP Paribas
IndustryFinancial services
Founded23 May 2000
Headquarters
Paris  
,
France  
ProductsCorporate banking
Investment banking
RevenueUS$27.6 billion (2008)[46]
10,975,000,000 Euro (2023)  
Total assets€3.1 trillion (2010)
Number of employees
17,000 (2007)[47]
Websitecib.bnpparibas.com

BNP Paribas CIB (Corporate and Institutional 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 US$3.1 trillion.[48][49]

BNP Paribas CIB's main centres are in Paris and London, with large scale operations in New York, Hong Kong, and Singapore, and smaller operations in almost every financial centre in the world. It employs 185,000 people across 56 countries and provides financing, advisory and capital markets services. BNP Paribas CIB is a globally recognised leader in two areas of expertise: trading derivatives on all asset classes, and structured financing.[46] BNP Paribas CIB also has a large corporate advisory network in Europe and Asia. BNP Paribas CIB has 13,000 clients, consisting of companies, financial institutions, governments, investment funds and hedge funds.

BNP Paribas CIB benefits from the Group's large asset base (over €2 trillion) and diverse business model, and is proving resilient in the economic and financial crisis that has been affecting the banking sector since 2007.[46] Revenues from BNP Paribas CIB nearly doubled in the second quarter of 2009 as robust investor demand boosted revenues from the bank's fixed income trading business unit. CIB's revenues totaled €3.351 billion (US$4.82 billion) for the quarter, up 81 percent from the second quarter of 2008, and following record revenues of €3.696 billion in the first quarter of 2009.[50]

BNP Paribas Asset Management edit

BNP Paribas Asset Management
 
Company typeSociété Anonyme
IndustryAsset management
Founded2007; 17 years ago (2007)
HeadquartersParis, France
Area served
Worldwide
Key people
Sandro Pierri (CEO)
Revenue45,874,000,000 Euro (2023)  
10,975,000,000 Euro (2023)  
AUM€537 billion (31 December 2021)
Number of employees
192,000 (2016)  
Websitebnpparibas-am.com
 
Headquarters, Paris

BNP Paribas Asset Management is the dedicated, autonomous asset management business of BNP Paribas Group.

History edit

In 2007, BNP Paribas regrouped its function in asset management under the brand name BNP Paribas Investment Partners.

In 2010, the closing of the transaction between BNP Paribas Investment Partners and Fortis Investments was completed.

In June 2017, BNP Paribas Investment Partners rebrands as BNP Paribas Asset Management.[51]

Notable current and former employees edit

Business edit

Politics and public service edit

Other edit

Controversies edit

Antisemitic allegations edit

In 2016 BNP reached a $40m settlement with a Jewish employee.[52] The employee had been made to watch a training video. The film portrayed Adolf Hitler as the CEO of Deutsche Bank, one of BNP's competitors and the Nazi soldiers around him as Deutsche Bank executives. The video showed Hitler screaming at the soldiers. Also, his colleagues made a number of anti-semitic comments during his time at BNP Paribas.[53]

Business with sanctioned countries edit

On 30 May 2014, The Wall Street Journal reported that the United States Department of Justice was negotiating a possible guilty plea with BNP Paribas as well as the size of the resulting fine for violating U.S. regulations and evading US sanctions. The Justice Department sought a fine of more than US $10 billion, which was expected to be reduced to $8 or $9 billion in negotiations.[54] BNP Paribas was said to have laundered up to US$100 billion from the sanctioned countries of Sudan, Iran, and Cuba.[55]

On 1 July 2014, BNP Paribas pled guilty in a New York state court to falsifying business records as well as conspiracy in connection to those falsifications. It was also expected to plead guilty in federal court to violating laws against money-laundering.[56] It agreed to pay $8.9 billion, the largest fine ever for violating U.S. sanctions, and substantially more than the previous record of $1.9 billion.[30][56] BNP Paribas was also barred for one year under the plea agreement from certain US dollar-dominated transactions. The fine exceeded the bank's $6.4 billion 2013 annual income and the $1.1 billion it previously had allocated for the anticipated fine.[56][57]

The bank's failure to cooperate with the multi-year investigation was given as a significant factor in the size of the fine. Additionally, BNP Paribas continued to process sanctioned transactions after the investigation began.[56][58] After the fine was announced, BNP said it would be "just fine" and that it had "a comprehensive plan" to avoid similar violations in the future. The company's stock, which had fallen 12% since news of the investigation first leaked, rose 4% on the announcement.[56][57] To comply with the transaction ban, BNP Paribas will use a third party to clear its US transactions.[59]

Check processing edit

In 2010 the French government's Autorité de la concurrence fined BNP and 10 other banks €384 million for colluding to charge unjustified fees on check processing, including extra fees during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.[60][61]

€152 million risk management affair edit

The German Frankfurter Allgemeine Zeitung[62] FOCUS,[63] Bloomberg[64] and the French Les Échos[65] newspapers published an article regarding a €152 million mistrade (erroneous trade) in which BNP Paribas Arbitrage was allegedly involved.[66][67] The bank has sold securities for €326,400 to the investor Armin S. but the value of the securities is €163 million according to the bank. According to the article, the error remained unnoticed for several days. BNP has even reconfirmed the original price.[68][69][70]

The Financial Times published an article in March 2018 about the case with the title "BNP Paribas failed to book trades in Germany for a week". It cites internal documents that show it did not book all trades that happened in structured products in Germany from 2 to 9 December 2015. The Financial Times estimates that 8,500 trades might have been affected. It also questions if the bank has hedged their positions if the trades have not been booked.[71][72][73]

Sponsorship edit

 
2011 Davis Cup in Zagreb

BNP Paribas has been a major sponsor of tennis. In 1973 it became the major sponsor of the French Open, one of the four prestigious Grand Slam tournaments in the sport. In 2001 the bank began to sponsor the Davis Cup before becoming the title sponsor in 2002. In 2002 it became the sponsor of the Paris Masters, an ATP World Tour Masters 1000 tournament.

In 2008 it became the sponsor of the BNP Paribas Primrose Bordeaux, an ATP Challenger Tour tournament. The company's sponsorship expanded to the United States in 2009 when it became the title sponsor of the Indian Wells Masters, an ATP World Tour Masters 1000 two-week tournament in California. It also sponsored the BNP Paribas Showdown and BNP Paribas Tennis Classic exhibition tournaments held in New York City and London respectively. The Stanford Classic, since 1992, is instead directly sponsored by the Bank of the West subsidiary.

In 2018, BNP Paribas created the production company BNP Paribas Pictures, and supports young cinema talents through an investment fund dedicated to the financing and co-production of the first films of new talents in Cinema, the Fonds Nouveaux Talents.[74] In 2019, the group supports the Femis Residence[75] and Mille visages,[76] which aims to democratize the cinema environment and create bridges between the different professions in cinema.[77][78] The group also participates in the restoration of cinematographic works such as Charlie Chaplin's "Modern Times" in 2003.[79]

See also edit

References edit

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External links edit

  • Official website  
  • Business data for BNP Paribas SA:
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paribas, sometimes, referred, bnpp, multinational, universal, bank, financial, services, holding, company, headquartered, paris, france, founded, 2000, from, merger, france, foremost, financial, institutions, banque, nationale, paris, paribas, also, incorporat. BNP Paribas sometimes referred to as BNPP or BNP is a multinational universal bank and financial services holding company headquartered in Paris France It was founded in 2000 from the merger of two of France s foremost financial institutions Banque Nationale de Paris BNP and Paribas 5 It also incorporates many other major institutions from successive mergers and acquisitions including Fortis Group and through it the Generale de Banque ASLK CGER and Nationale Maatschappij voor Krediet aan de Nijverheid Societe Nationale de Credit a l Industrie in Belgium Direkt Anlage Bank in Germany Banca Nazionale del Lavoro in Italy Banque Generale du Luxembourg in Luxembourg and Turk Ekonomi Bankasi in Turkey The Group has also been present in the United States through its subsidiaries Bank of the West until 2023 and First Hawaiian Bank until 2019 With 190 000 employees the bank is organized into three major business areas Commercial Personal Banking amp Services CPBS Investment amp Protection Services IPS and Corporate amp Institutional Banking CIB BNP ParibasThe headquarters of BNP Paribas in ParisCompany typePublicTraded asEuronext Paris BNP LSE 0HB5CAC 40 component BNP IndustryFinancial servicesFounded13 December 1822 201 years ago 1822 12 13 Creation of Societe Generale de Belgique predecessor of Fortis Bank 10 March 1848 176 years ago 1848 03 10 1 creation of Comptoir national d escompte de Paris predecessor of BNP 27 January 1872 152 years ago 1872 01 27 2 creation of Banque de Paris et des Pays Bas later called Paribas 23 May 2000 23 years ago 2000 05 23 3 merging as BNP ParibasHeadquarters20 Boulevard des ItaliensParis FranceArea servedWorldwideKey peopleJean Lemierre President and Chairman Jean Laurent Bonnafe CEO ProductsAsset managementBankingCommoditiesCredit cardsEquities tradingInsuranceInvestment bankingInvestment managementMortgage loansMutual fundsPrivate equitySecurities servicesRisk managementWealth managementRevenue 50 4 billion 2022 4 Operating income 13 7 billion 2022 4 Net income 10 2 billion 2022 4 Total assets 2 67 trillion 2022 4 Total equity 122 billion 2022 4 Number of employees190 000 2022 4 DivisionsList BNP Paribas Asset ManagementBNP Paribas CardifBNP Paribas FactorBNP Paribas FortisBNP Paribas Real EstateSubsidiariesList ArvalBanca Nazionale del LavoroCetelemHello bank Websitegroup wbr bnpparibas wbr en wbr BNP Paribas is listed on Euronext Paris and a component of the Euro Stoxx 50 stock market index 6 It is the largest banking group in Europe and ninth largest banking group in the world by assets 7 It became one of the five largest banks in the world following the 2008 financial crisis 8 It is considered a systemically important bank by the Financial Stability Board 9 In the Forbes Global 2000 BNP Paribas was ranked as the 33rd largest public company in the world 10 It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014 and as a consequence is directly supervised by the European Central Bank 11 12 Even though BNP Paribas is often referred to as a French bank 13 the Belgian government is a significant shareholder with 5 3 percent equity ownership as of mid 2023 14 and the bank s oldest significant predecessor entity is the Societe Generale de Belgique established in 1822 15 Contents 1 History 2 Financial data 3 Corporate identity 4 Corporate structure 4 1 Executive Committee 4 2 Board of directors 4 3 Major shareholders 4 4 Main subsidiaries 4 4 1 Retail banking 4 4 2 Other subsidiaries 5 Divisions 5 1 BNP Paribas CIB 5 2 BNP Paribas Asset Management 5 2 1 History 6 Notable current and former employees 6 1 Business 6 2 Politics and public service 6 3 Other 7 Controversies 7 1 Antisemitic allegations 7 2 Business with sanctioned countries 7 3 Check processing 7 4 152 million risk management affair 8 Sponsorship 9 See also 10 References 11 External linksHistory editSee also Banque d Anvers Banque Belgolaise Banque Francaise pour le Commerce et l Industrie Banque marocaine pour le commerce et l industrie Banque Nationale pour le Commerce et l Industrie Banque de l Union Parisienne Cetelem Cortal Consors Credit du Nord Ottoman Bank and Societe Belge de Banque nbsp Former headquarters of Banca Nazionale del Lavoro in Rome nbsp BNP Paribas London Trading Floor In 1999 BNP and Societe Generale fought a complex battle on the stock market with Societe Generale bidding for Paribas and BNP bidding for Societe Generale and counter bidding for Paribas BNP s bid for Societe Generale failed while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later on 23 May 2000 In 2006 BNP Paribas purchased Banca Nazionale del Lavoro BNL Italy s sixth largest bank 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 16 17 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 12 December 18 19 20 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 21 On 11 February Fortis shareholders decided that Fortis Bank Belgium and Fortis Insurance Belgium should not become the property of BNP Paribas However the acquisition was completed and BNP Paribas took 75 shareholding 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 In April 2024 it was announced BNP Paribas had acquired Fosun International s entire 9 stake in Ageas worth 730 million 22 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 making BNP the eurozone s largest bank by deposits held 23 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 24 In 2013 BNP Paribas was awarded the Bank of the Year award by The International Financing Review IFR Thomson Reuters leading financial industry publication 25 26 27 BNP Paribas reached an agreement in December 2013 to acquire Rabobank s Polish unit BGZ Bank for around 1 4 billion 28 In September 2014 BNP completed the purchase of BGZ Bank for a final fee stated in the media to be 1 3 billion 29 30 31 In December 2021 BNP Paribas announced to exit US retail banking business by selling its Bank of the West to the Bank of Montreal for 16 3bn 32 BNP Paribas has around 80 billion under management in Asia by 2024 The bank has hired 20 private bankers including Tiffeny Situ from Morgan Stanley Wendy Chan from Citigroup and Martin Loh from Credit Suisse Group as part of its expansion program 33 Financial data edit nbsp Francais BNP Paribas locations In 2022 total revenues of 50 4 billion represent an increase of 9 compared to 2021 BNP Paribas remains at the top of the French banks ranking in terms of activity During this year BNP Paribas Group net income attributable to equity holders increased to 7 5 to 10 2 billion euros The geographic breakdown of Net Banking Income NBI at the end of 2020 is as follows Europe 72 2 North America 12 9 Asia Pacific 8 6 and others 6 3 34 Financial data in billions 35 Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Revenue 38 822 39 168 42 938 43 411 43 161 42 516 44 597 44 275 46 235 50 419 Net Income 5 439 0 507 7 044 8 115 8 207 7 526 8 173 7 067 9 488 10 196 Assets 1 800 139 2 077 759 1 994 193 2 076 959 1 960 252 2 041 2 165 2 488 2 634 2 666 Employees 185 000 188 000 189 000 192 000 196 000 203 000 199 000 193 000 190 000 190 000Corporate identity edit nbsp Francais BNP Paribas logo nbsp Design BNP Paribas par Laurent Vincenti pour A amp Co The BNP Paribas logo since 2000 designed by Laurent Vincent under the leadership of the Communications Director Antoine Sire is called the courbe d envol curve of taking flight The stars allude to Europe and universality The transformation of the stars into birds conveys openness freedom growth and the ability to change and adapt The shape and movement of the curve places the logo in the universe of life The green square symbolises nature and optimism 36 Corporate structure editExecutive Committee edit The General Management and the executive committee are composed as follows Jean Laurent Bonnafe Director and chief executive officer of BNP Paribas Yann Gerardin directeur general delegue chief operating officer Corporate amp Institutional Banking Thierry Laborde directeur general Delegue chief operating officer Retail Banking Laurent David Deputy chief operating officer Renaud Dumora Deputy chief operating officer Investment amp Protection Services Marguerite Berard Head of French Retail Banking Stefaan Decraene Head of International Retail Banking Charlotte Dennery Director and chief executive officer of BNP Paribas Personal Finance Bernard Gavgani chief information officer Elena Goitini chief executive officer of BNL Stephanie Maarek Head of Compliance Max Jadot CEO and chairman of the executive board of BNP Paribas Fortis Yannick Jung Head of Corporate amp Institutional Banking Global Banking EMEA Board of directors edit As of 17 May 2021 37 nbsp Jean Lemierre Senior Adviser to the chairman BNP Paribas Group France at the World Economic Forum on Europe and Central Asia in Istanbul 30 October 1 November 2008 Jean Lemierre chairman former president of the European Bank for Reconstruction and Development Jean Laurent Bonnafe CEO of BNP Paribas Jacques Aschenbroich chairman and CEO of Valeo Pierre Andre de Chalendar chairman and CEO of Saint Gobain Monique Cohen partner at Apax Partners Wouter De Ploey CEO of ZNA Hugues Epaillard BNP Paribas Real Estate executive Rajna Gibson Brandon professor at the University of Geneva Marion Guillou global food security academic Major shareholders edit As of 31 December 2023 38 European institutional investors 37 7 Non European institutional investors 32 5 BlackRock Inc 6 9 Belgian State through SFPI 5 5 Amundi 5 4 Retail shareholders 5 9 Employees 5 0 Grand Duchy of Luxembourg 1 1 Main subsidiaries edit Retail banking edit nbsp Italian Headquarters in Milan BNP Paribas France more than 2 200 branches BNP Paribas Bulgaria BancWest Bank of the West in the USA BNP Paribas El Djazair Algeria BMCI Morocco nbsp Orizzonte Europa BNL Headquarters in Rome subsidiary of BNP Paribas Banca Nazionale del Lavoro BNL Italy Turk Ekonomi Bankasi TEB Turkey BNP Paribas Fortis Belgium Germany Poland Turkey BGL BNP Paribas Luxembourg Hello bank Sahara Bank Libya Ukrsibbank Ukraine BCI Mer Rouge Djibouti Banque de Wallis et Futuna BNP Paribas Bank Polska Poland Other subsidiaries edit nbsp Consorsbank Alfred Berg BNP Paribas Arbitrage BNP Paribas Assurances with Cardif Pinnacle BNP Paribas Investment Partners BNP Paribas Partners for Innovation BNP Paribas Personal Finance UK Creation Financial Services Limited and Creation Consumer Finance Limited 39 BNP Paribas Primebrokerag BNP Paribas Real Estate formerly Atisreal BNP Paribas Leasing Solutions 40 with Arval 41 and Artegy BNP Paribas Securities Services BNP Paribas Wealth Management Cetelem Consors Finanz Cortal Consors FundQuest SBI Life Insurance Company Limited a joint venture insurance company with State Bank of India India s largest financial service company nbsp Sharekhan after acquisition by BNP Paribas Sharekhan an Indian retail brokerage firm L Atelier BNP Paribas BNP Paribas Personal Investors Luxembourg 42 Protection 24 43 44 SAIB BNP Paribas Asset Management 45 Divisions editBNP Paribas CIB edit BNP Paribas CIB nbsp nbsp The Maison doree home to Parisian operations of BNP Paribas CIB with the registered office of BNP Paribas in the backgroundCompany typeSubsidiary of BNP ParibasIndustryFinancial servicesFounded23 May 2000HeadquartersParis nbsp France nbsp ProductsCorporate bankingInvestment bankingRevenueUS 27 6 billion 2008 46 Net income10 975 000 000 Euro 2023 nbsp Total assets 3 1 trillion 2010 Number of employees17 000 2007 47 Websitecib wbr bnpparibas wbr com BNP Paribas CIB Corporate and Institutional 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 US 3 1 trillion 48 49 BNP Paribas CIB s main centres are in Paris and London with large scale operations in New York Hong Kong and Singapore and smaller operations in almost every financial centre in the world It employs 185 000 people across 56 countries and provides financing advisory and capital markets services BNP Paribas CIB is a globally recognised leader in two areas of expertise trading derivatives on all asset classes and structured financing 46 BNP Paribas CIB also has a large corporate advisory network in Europe and Asia BNP Paribas CIB has 13 000 clients consisting of companies financial institutions governments investment funds and hedge funds BNP Paribas CIB benefits from the Group s large asset base over 2 trillion and diverse business model and is proving resilient in the economic and financial crisis that has been affecting the banking sector since 2007 46 Revenues from BNP Paribas CIB nearly doubled in the second quarter of 2009 as robust investor demand boosted revenues from the bank s fixed income trading business unit CIB s revenues totaled 3 351 billion US 4 82 billion for the quarter up 81 percent from the second quarter of 2008 and following record revenues of 3 696 billion in the first quarter of 2009 50 BNP Paribas Asset Management edit BNP Paribas Asset Management nbsp Company typeSociete AnonymeIndustryAsset managementFounded2007 17 years ago 2007 HeadquartersParis FranceArea servedWorldwideKey peopleSandro Pierri CEO Revenue45 874 000 000 Euro 2023 nbsp Net income10 975 000 000 Euro 2023 nbsp AUM 537 billion 31 December 2021 Number of employees192 000 2016 nbsp Websitebnpparibas am wbr com nbsp Headquarters Paris BNP Paribas Asset Management is the dedicated autonomous asset management business of BNP Paribas Group History edit In 2007 BNP Paribas regrouped its function in asset management under the brand name BNP Paribas Investment Partners In 2010 the closing of the transaction between BNP Paribas Investment Partners and Fortis Investments was completed In June 2017 BNP Paribas Investment Partners rebrands as BNP Paribas Asset Management 51 Notable current and former employees editBusiness edit Nassim Taleb Practitioner of financial mathematics author of The Black Swan Fooled by Randomness and Dynamic Hedging and former BNP Paribas prop trader in New York City Politics and public service edit Louis Alphonse of Bourbon Duke of Anjou considered by royalists as the head of the French Royal House Jacques de Larosiere 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 edit David McWilliams economistControversies editAntisemitic allegations edit In 2016 BNP reached a 40m settlement with a Jewish employee 52 The employee had been made to watch a training video The film portrayed Adolf Hitler as the CEO of Deutsche Bank one of BNP s competitors and the Nazi soldiers around him as Deutsche Bank executives The video showed Hitler screaming at the soldiers Also his colleagues made a number of anti semitic comments during his time at BNP Paribas 53 Business with sanctioned countries edit On 30 May 2014 The Wall Street Journal reported that the United States Department of Justice was negotiating a possible guilty plea with BNP Paribas as well as the size of the resulting fine for violating U S regulations and evading US sanctions The Justice Department sought a fine of more than US 10 billion which was expected to be reduced to 8 or 9 billion in negotiations 54 BNP Paribas was said to have laundered up to US 100 billion from the sanctioned countries of Sudan Iran and Cuba 55 On 1 July 2014 BNP Paribas pled guilty in a New York state court to falsifying business records as well as conspiracy in connection to those falsifications It was also expected to plead guilty in federal court to violating laws against money laundering 56 It agreed to pay 8 9 billion the largest fine ever for violating U S sanctions and substantially more than the previous record of 1 9 billion 30 56 BNP Paribas was also barred for one year under the plea agreement from certain US dollar dominated transactions The fine exceeded the bank s 6 4 billion 2013 annual income and the 1 1 billion it previously had allocated for the anticipated fine 56 57 The bank s failure to cooperate with the multi year investigation was given as a significant factor in the size of the fine Additionally BNP Paribas continued to process sanctioned transactions after the investigation began 56 58 After the fine was announced BNP said it would be just fine and that it had a comprehensive plan to avoid similar violations in the future The company s stock which had fallen 12 since news of the investigation first leaked rose 4 on the announcement 56 57 To comply with the transaction ban BNP Paribas will use a third party to clear its US transactions 59 Check processing edit In 2010 the French government s Autorite de la concurrence fined BNP and 10 other banks 384 million for colluding to charge unjustified fees on check processing including extra fees during the transition from paper check transfer to Exchanges Check Image electronic transfer 60 61 152 million risk management affair edit The German Frankfurter Allgemeine Zeitung 62 FOCUS 63 Bloomberg 64 and the French Les Echos 65 newspapers published an article regarding a 152 million mistrade erroneous trade in which BNP Paribas Arbitrage was allegedly involved 66 67 The bank has sold securities for 326 400 to the investor Armin S but the value of the securities is 163 million according to the bank According to the article the error remained unnoticed for several days BNP has even reconfirmed the original price 68 69 70 The Financial Times published an article in March 2018 about the case with the title BNP Paribas failed to book trades in Germany for a week It cites internal documents that show it did not book all trades that happened in structured products in Germany from 2 to 9 December 2015 The Financial Times estimates that 8 500 trades might have been affected It also questions if the bank has hedged their positions if the trades have not been booked 71 72 73 Sponsorship edit nbsp 2011 Davis Cup in Zagreb BNP Paribas has been a major sponsor of tennis In 1973 it became the major sponsor of the French Open one of the four prestigious Grand Slam tournaments in the sport In 2001 the bank began to sponsor the Davis Cup before becoming the title sponsor in 2002 In 2002 it became the sponsor of the Paris Masters an ATP World Tour Masters 1000 tournament In 2008 it became the sponsor of the BNP Paribas Primrose Bordeaux an ATP Challenger Tour tournament The company s sponsorship expanded to the United States in 2009 when it became the title sponsor of the Indian Wells Masters an ATP World Tour Masters 1000 two week tournament in California It also sponsored the BNP Paribas Showdown and BNP Paribas Tennis Classic exhibition tournaments held in New York City and London respectively The Stanford Classic since 1992 is instead directly sponsored by the Bank of the West subsidiary In 2018 BNP Paribas created the production company BNP Paribas Pictures and supports young cinema talents through an investment fund dedicated to the financing and co production of the first films of new talents in Cinema the Fonds Nouveaux Talents 74 In 2019 the group supports the Femis Residence 75 and Mille visages 76 which aims to democratize the cinema environment and create bridges between the different professions in cinema 77 78 The group also participates in the restoration of cinematographic works such as Charlie Chaplin s Modern Times in 2003 79 See also editBNL BNP Paribas headquarters List of banksReferences edit The Comptoir National d Escompte de Paris 1848 1966 BNP Paribas 26 May 2023 The Banque de Paris et des Pays Bas Paribas 1872 2000 BNP Paribas 26 May 2023 A European leader Since 2000 BNP Paribas 26 May 2023 a b c d e f 2022 Consolidated Financial Statements BNP Paribas Retrieved 22 March 2023 BNP Paribas Retrieved 4 April 2023 Constituents boerse frankfurt de Archived from the original on 19 November 2015 Largest banks worldwide as of December 2021 by assets statista com Statista 29 August 2022 Retrieved 21 March 2023 How BNP Paribas Became One of the World s Biggest Banks SBNN SBNN 12 September 2017 Archived from the original on 19 March 2018 Retrieved 18 March 2018 2022 List of Global Systemically Important Banks G SIBs www fsb org 21 November 2022 Retrieved 27 November 2022 Forbes Global 2000 Forbes Retrieved 12 June 2023 The list of significant supervised entities and the list of less significant institutions PDF European Central Bank 4 September 2014 List of supervised entities PDF European Central Bank 1 January 2023 French bank BNP Paribas sued for financing fossil fuel companies rfi fr 23 February 2023 BNP Paribas Share BNP Paribas Pioneering Times 1822 1913 BNP Paribas Harry Wilson 3 August 2010 BNP Paribas makes first asset write back since 2007 The Telegraph London Archived from the original on 21 November 2011 Retrieved 6 April 2011 Morning Zhou 9 August 2007 Asian stocks may fall on credit woes global sell off Market Watch Archived from the original on 7 June 2011 Retrieved 6 April 2011 BNP Paribas rachete Fortis en Belgique et au Luxembourg Le Monde Reuters 6 October 2008 Retrieved 6 April 2011 Aandeel Fortis blijft geschorst De Morgen 14 December 2008 Retrieved 6 April 2011 Affaire Madoff BNP Paribas pourrait perdre 350 millions d euros Le monde 14 December 2008 Archived from the original on 15 December 2008 UPDATE 1 BNP Paribas to change Fortis brand Reuters 11 March 2009 Retrieved 28 October 2021 Easton Jonathan 15 April 2024 BNP Paribas to acquire 9 stake in Belgian insurer Ageas FStech Retrieved 15 April 2024 Reed Stevenson 29 April 2009 Fortis asset sale to BNP cleared with Dutch OK Reuters Retrieved 30 April 2009 The history of Fortis BGL BNP Paribas Archived 13 August 2011 at the Wayback Machine BGL BNP Paribas Retrieved 9 September 2011 Mullin Keith 15 February 2012 Bank of the Year BNP Paribas All Special Reports Archived 16 December 2012 at the Wayback Machine IFRe Retrieved on 6 December 2013 BNP Paribas digs deep at charity auction Archived 28 January 2013 at the Wayback Machine Efinancialnews com Retrieved on 6 December 2013 International banking finance capital markets news amp analysis Euromoney magazine Archived 13 December 2013 at the Wayback Machine Euromoney com Retrieved on 6 December 2013 Marcin Goclowski 5 December 2013 BNP Paribas agrees to buy Polish Rabobank unit for 1 4 billion Reuters Archived from the original on 24 September 2015 BNP completes purchase of Bank BGZ from Rabobank Archived 24 September 2015 at the Wayback Machine Reuters 17 September 2014 a b Protess Ben and Jessica Silver Greenberg 30 June 2014 BNP Paribas Admits Guilt and Agrees to Pay 8 9 Billion Fine to U S The New York Times Archived from the original on 30 June 2014 Retrieved 1 July 2014 FBI Bank Guilty of Violating U S Economic Sanctions Fbi gov Archived from the original on 15 July 2014 Retrieved 14 July 2014 Sarah White 20 December 2021 BNP Paribas to exit US retail market with 16 3bn Bank of the West sale Financial Times Archived from the original on 10 December 2022 Retrieved 20 December 2021 BNP Paribas hires 20 private bankers for Asia wealth expansion The Business Times Archived from the original on 7 February 2024 Retrieved 17 February 2024 BNP Paribas revenue Revenue Breakdown Craft BNP Paribas A Bilanz Gewinn und Umsatz BNP Paribas A Geschaftsbericht 887771 wallstreet online de Retrieved 5 November 2018 What is the bank with a red logo BioSidmartin biosidmartin com Retrieved 28 March 2023 Members of the Board of Directors BNP Paribas group bnpparibas Retrieved 22 March 2023 Share ownership group bnpparibas Retrieved 19 March 2024 BNP Paribas Legal Information www bnpparibas pf co uk Archived from the original on 29 January 2018 Retrieved 4 May 2018 Leasing Solutions PNB Paribas 2010 Archived from the original on 26 February 2011 Retrieved 6 April 2011 Arval BNP Paribas Archived from the original on 29 January 2011 Retrieved 6 April 2011 bnpparibas personalinvestors lu bnpparibas personalinvestors lu 1 January 1970 Archived from the original on 19 December 2014 Retrieved 14 July 2014 Protection Habitat bnp paribas 1 January 1970 Archived from the original on 7 November 2016 Retrieved 4 November 2016 Protection 24 protection 24 1 January 1970 Archived from the original on 20 October 2016 Retrieved 4 November 2016 BNP Paribas Investment Partners and The Saudi Investment Bank announce the launch of a new asset management company SAIB BNP Paribas Asset Management BNP Paribas BNP Paribas Retrieved 22 April 2023 a b c Biz Journals dead link Annual Report 2007 PDF BNP Paribas Archived from the original PDF on 10 September 2008 Retrieved 16 June 2008 Bloomberg Oct 2010 Archived from the original on 8 November 2010 Retrieved 5 November 2010 The Global 2000 Forbes April 21 2010 Retrieved 11 September 2010 Fixed Income Boosts CIB Revenues Archived from the original on 18 September 2010 Retrieved 14 October 2009 BNP Paribas Asset Management rebranding Ain Stewart 4 May 2016 40M Lawsuit Over Bank s Nazi Themed Training Video jewishweek timesofisrael com Archived from the original on 4 February 2018 Retrieved 4 February 2017 Simao Oliver 24 May 2016 BNP Paribas reaches settlement over offensive Hitler parody video in training sessions PDF Archived from the original PDF on 4 February 2018 Retrieved 4 February 2017 Justice Dept Seeks More Than 10 Billion Penalty From BNP Paribas Archived 9 July 2017 at the Wayback Machine Wall Street Journal 30 May 2014 Kevin Dugan 4 June 2014 BNP Paribas probed over 100B money laundering scheme New York Post Archived from the original on 28 June 2014 Retrieved 2 July 2014 a b c d e Thompson Mark and Evan Perez 1 July 2014 BNP Paribas to pay nearly 9 billion penalty CNN Money Archived from the original on 7 July 2014 Retrieved 1 July 2014 a b Touryalai Halah 1 July 2014 BNP Is Just Fine After 9B Penalty Are Billion Dollar Settlements Effective Forbes Archived from the original on 6 July 2014 Retrieved 1 July 2014 U S Department of Justice May 2015 BNP Paribas Sentenced for Conspiring to Violate the International Emergency Economic Powers Act and the Trading with the Enemy Act United States Department of Justice Archived from the original on 25 December 2015 Retrieved 24 December 2015 Meyer Henry 1 July 2014 Putin Says U S Blackmailed France Over Warship With BNP Fine Bloomberg Archived from the original on 19 December 2014 Collusion in the banking sector Archived 27 July 2011 at the Wayback Machine Press Release of Autorite de la concurrence Republique Francaise 20 September 2010 retrv 2010 9 20 Marina Sysoyeva 19 January 2011 Bnp Paribas Sues Russian Grain Trader Rias Seeking 20 Million Bloomberg com Archived from the original on 12 April 2012 Retrieved 6 April 2011 GmbH Frankfurter Allgemeine Zeitung 30 July 2017 Mistrades Der 163 Millionen Euro Mann FAZ NET Retrieved 30 October 2017 Arroganz der Banker kotzt mich an Armin S verklagt Grossbank auf 163 Mio Euro FOCUS Online in German Archived from the original on 30 September 2017 Retrieved 30 October 2017 Jager Jorg Engelbert 22 May 2017 Daytrader verlangt von BNP Paribas wegen Preisirrtum 152 Mio DIE WELT Retrieved 30 October 2017 Un trader reclame 161 millions d euros a BNP Paribas lesechos fr in French Retrieved 30 October 2017 Online FOCUS Bank Irrtum zu seinen Gunsten Archived from the original on 8 July 2016 Retrieved 7 July 2016 Un trader reclame 161 millions d euros a BNP Paribas lesechos fr in French 11 March 2017 Retrieved 11 March 2017 Lusk Michael Do banks internal control systems work Archived from the original on 27 December 2017 S Armin 15 September 2016 Auf dem Papier Millionar PDF Auf dem Papier Millionar Archived PDF from the original on 16 September 2016 Retrieved 15 September 2016 Jager Jorg Engelbert 22 May 2017 Daytrader verlangt von BNP Paribas wegen Preisirrtum 152 Mio WELT DIE WELT Retrieved 26 May 2017 Binham Caroline 9 March 2018 BNP Paribas failed to book trades in Germany for a week Financial Times Archived from the original on 17 March 2018 ArminS vs BNP Paribas YouTube 26 September 2018 Matussek Karin 11 January 2019 BNP Faces New Front in 188 Million Fat Finger Suit by Trader Bloomberg Retrieved 11 January 2019 Zonebourse 9 July 2021 BNP Paribas Avec le fonds Nouveaux Talents du cinema de BNP Paribas les premiers films prennent la lumiere a Cannes Zonebourse www zonebourse com in French Retrieved 20 April 2024 Mosquito 19 May 2022 Mecenes et Partenaires La Femis in French Retrieved 20 April 2024 Democratiser les metiers du cinema de la serie et renouveler les imaginaires 1000 visages in French Houda Benyamina veut democratiser les metiers du cinema Le Figaro in French 26 January 2017 Retrieved 20 April 2024 Your Reward Card L Equipe in French Retrieved 20 April 2024 Chaplin rare et inconnu PDF institut lumiere org in French External links edit nbsp Wikimedia Commons has media related to BNP Paribas Official website nbsp Business data for BNP Paribas SA BloombergGoogleReutersYahoo Retrieved from https en wikipedia org w index php title BNP Paribas amp oldid 1220258232, wikipedia, wiki, book, books, library,

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