(Benjamin Gonthier- Maurin part)
BNP Paribas is the largest global banking group in the world, headquartered in Paris with its second global headquarters in London.
The firm is a universal bank split into three strategic business units: "retail banking", "corporate & investment banking", and "investmentsolutions" (which includes asset management, custodial banking, and real estate services.)
The company is a “Societé Anonyme, which has a quotation at the Euronext named BNP and a quotation at the Pink Sheets name BNPQY.
Its industry concerns the financial services, the firm is a worldwide company and its key people are BAUDOUIN Prot who is the CEO and Michel PEREBEAU who is the Chairman.
Thefirm has a turnover of €40.19 billion (at the end of 2009), with a profit of €6 billion (at the end of 2009).
BNP Paribas has 201,740 (2009) employees and its website is www.bnpparibas.com.
The subsidiary companies of BNP Paribas are BNP Paribas Real Estate, Cetelem, BMCI, BancWest, BNL, Cortal Consors, BNP Paribas Fortis, BGL BNP Paribas, Ukrsibbank and BICI Afrique.
PRESENTATION OF THE BANK
The “Comptoir national d'escompte de Paris » (CNEP), was created in mars 1848, the “Comptoir national d'escompte de Mulhouse » (CNEM), was also created in mars 1848 and the “Banque nationale pour le commerce et l'industrie » (BNCI), was created in 1932.
After the end of World War II, the French State decided to "put banks and credit to work for nationalreconstruction". 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 inthese 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.
On 9 August 2007, BNP Paribas became the first major financial group to acknowledge the impact of thesub-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 majorshareholder. The sales of the Fortis shares were suspended by a court order from the Court of Appeal on Friday the 12th of 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 FortisHolding.
On 11 February 2009, 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 thathad 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 October 2010 it 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...