BNP Paribas

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BNP Paribas Template:Euronext Template:Tyo is one of the main banks in Europe and France. It was created 2000-05-23 by the merger of Banque Nationale de Paris (BNP) and Paribas. Together with Société Générale and Crédit Lyonnais it is part of the "three old" banks of France. It is part of the CAC 40 stock index.

Contents

History

BNP was created in 1966 by the merger of Banque Nationale du Commerce et de l'Industrie (BNCI) and Conservatoire Nationale 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.

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

Some figures

BNP Paribas is the largest bank in the Eurozone by market capitalization and profit. It employs 87 000 people, of which 66 000 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 2200 offices.

Subsidiaries

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