name: BNP Paribas
BNP Paribas is a French bank and financial services company headquartered in Paris, France, with its second global headquarters in London, England. It was established in 2000. The bank was formed through the merger of BNP Paribas and BNP Paribas, which is one of the largest banks in the world.
Based on Bloomberg and Forbes magazine data reports, BNP Paribas was named the world’s fourth largest bank by total assets in 2012. During the credit crisis from 2007 to 2009, BNP Paribas was relatively less affected. Profit in 2008 was 3 billion euros, and in 2009 it was 5.8 billion euros.
Currently, BNP Paribas is rated A+ by Moody’s and Fitch Ratings Group as long-term debt A+ by Standard & Poor’s. The company is a universal bank and has three strategic business units: retail banking, corporate and investment banking and investment solutions (including asset management, custodian banking, real estate and other services).
The four local markets of BNP Paribas are France, Italy, Belgium and Luxembourg. It has retail operations in the United States, Poland, Turkey, Ukraine, and North Africa, and large investment banking operations in New York, London, Hong Kong and Singapore .
BNP Paribas was awarded Bank of the Year by Thomson Reuters’ leading financial industry publication International Financial Review in 2013. The award is an industry benchmark and the highest honor a bank has been awarded.
On March 7, 1848, the French Provisional Government established the Comptoir national d’escompte de Paris in February 1848 in response to the impact of the financial shock. The French financial turmoil destroyed the old credit system, but the new bank provided sufficient funds to meet the railway development and the resulting industrial growth needs.
Comptoir national d’escompte de Paris has grown steadily in France and abroad, although it was temporarily settled and taken over during the crisis in 1889.
After the end of the Second World War, the French government decided to make banks and credit the core of French national reconstruction. At the time, French Finance Minister René Pleven launched a large-scale banking restructuring.
A law was passed in December 1945. The decree took effect on January 1, 1946. The four leading local French retail banks are: Banque nationale pour le commerce et l’industrie, Comptoir national d’escompte de Paris, Lyon Credit and Societe Generale.
In 1966, the French government decided to merge Banque nationale pour le commerce et l’industrie and Comptoir national d’escompte de Paris to create a new bank, Banque Nationale.
In 1993, BNP Paribas was privatized again, and under the leadership of Michel Peblo, the bank became part of the Chirac government’s second privatization policy.
BNP Paribas was established on May 23, 2000. The chairman is Baudouin Prot and the CEO is Jean-Laurent Bonnafé. In fiscal year 2011, BNP Paribas had revenues of 47.86 billion euros, operating income of 9.677 billion euros, net profit of 6.050 billion euros, total assets of 1.965 trillion euros, total equity of 85.62 billion euros, and 200,000 employees.
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