BNP Paribas
Company type | Public |
---|---|
Euronext Paris: BNP
LSE: 0HB5 CAC 40 component (BNP) | |
Industry | Financial services |
Founded |
|
Headquarters | |
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 | |
Website | group |
BNP Paribas (sometimes referred to as BNPP or BNP) is a
BNP Paribas is listed on
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
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
On 6 October 2008, BNP took over 75% of troubled bank
On 11 February, Fortis' shareholders decided that
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.[22] 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.[23] In 2013 BNP Paribas was awarded the Bank of the Year award by The International Financing Review ("IFR"), Thomson Reuters' leading financial industry publication.[24][25][26]
BNP Paribas reached an agreement in December 2013 to acquire Rabobank's Polish unit BGZ Bank for around $1.4 billion.[27] In September 2014, BNP completed the purchase of BGZ Bank for a final fee stated in the media to be $1.3 billion.[28][29][30] 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.[31]
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.[32]
Financial data
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%).[33]
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
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.[35]
Corporate structure
Executive Committee
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
As of 17 May 2021[36]
- Jean Lemierre (chairman), former president of the European Bank for Reconstruction and Development
- Jean-Laurent Bonnafé, CEO of BNP Paribas
- Jacques Aschenbroich, chairman and CEO of Valeo
- Pierre-André 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
As of 31 December 2023[37]
- 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
Retail banking
- BNP Paribas France (more than 2 200 branches)
- BNP Paribas Bulgaria
- BancWest (Bank of the Westin the USA)
- BNP Paribas El Djazaïr (Algeria)
- BMCI (Morocco)
- 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
- 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)[38]
- BNP Paribas Primebrokerag
- Atisreal)
- BNP Paribas Leasing Solutions[39] with Arval,[40] 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
- retail brokeragefirm
- L'Atelier BNP Paribas
- BNP Paribas Personal Investors Luxembourg[41]
- Protection 24[42][43]
- SAIB-BNP Paribas Asset Management[44]
Divisions
BNP Paribas CIB
Corporate banking Investment banking | |
Revenue | US$27.6 billion (2008)[45] |
---|---|
10,975,000,000 Euro (2023) | |
Total assets | €3.1 trillion (2010) |
Number of employees | 17,000 (2007)[46] |
Website | cib |
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.[47][48]
BNP Paribas CIB's main centres are in
. 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
BNP Paribas Asset Management
Company type | Société Anonyme |
---|---|
Industry | Asset management |
Founded | 2007 |
Headquarters | Paris, France |
Area served | Worldwide |
Key people | Sandro Pierri (CEO) |
Revenue | 45,874,000,000 Euro (2023) |
10,975,000,000 Euro (2023) | |
AUM | €537 billion (31 December 2021) |
Number of employees | 192,000 (2016) |
Website | bnpparibas-am |
BNP Paribas Asset Management is the dedicated, autonomous asset management business of BNP Paribas Group.
History
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.[50]
Notable current and former employees
Business
- Dynamic Hedging, and former BNP Paribas prop trader in New York City.
Politics and public service
- Louis Alphonse of Bourbon, 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)
- Lorenz of Habsburg, Archduke of Austria-Este
Other
- David McWilliams - economist
Controversies
Antisemitic allegations
In 2016 BNP reached a $40m settlement with a Jewish employee.[51] 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.[52]
Business with sanctioned countries
On 30 May 2014,
On 1 July 2014, BNP Paribas pled guilty in a
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.[55][57] 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.[55][56] To comply with the transaction ban, BNP Paribas will use a third party to clear its US transactions.[58]
Check processing
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.[59][60]
€152 million risk management affair
The German
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.[70][71][72]
Sponsorship
BNP Paribas has been a major sponsor of tennis. In 1973 it became the major sponsor of the
In 2008 it became the sponsor of the
See also
- BNL BNP Paribas headquarters
- List of banks
References
- ^ "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 rachète 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.
- ^ 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 & 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) Geschäftsbericht | 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 Autorité de la concurrence, République Française, 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.
- ^ Jäger, Jörg Engelbert (22 May 2017). "Daytrader verlangt von BNP Paribas wegen Preisirrtum 152 Mio €". DIE WELT. Retrieved 30 October 2017.
- ^ "Un trader réclame 161 millions d'euros à 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 réclame 161 millions d'euros à 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 Millionär" (PDF). Auf dem Papier Millionär. Archived (PDF) from the original on 16 September 2016. Retrieved 15 September 2016.
- ^ Jäger, Jörg 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.
External links
- Official website
- Business data for BNP Paribas SA: