BNP Paribas

From Wikicompany

BNP Paribas is one of the main banks in Europe and France.

BNP Paribas was created on 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.

The bank is active in the finance, investment and asset management markets. In France, BNP Paribas is active in retail banking with 2200 offices.

BNP Paribas is the largest bank in the Eurozone by maket capitalization and profit. It employs about 87.000 people, of which 66.000 in Europe, and maintains a presence in 87 countries.

BNP Pariba's stock is part of the French CAC-40 stock index.

Subsidiaries

• Banque de Bretagne
• CETELEM
• CortalConsors
• BNP Paribas Lease Group
• Bank of the West
• First Hawaiian Bank

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 battle on the stock market over Paribas. Winning the fight, BNP merged with 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.