BNP Paribas

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  BNP Paribas SA
logo
BNP Paribas building in Paris
Country FranceFrance France
Seat Paris
legal form Corporation
ISIN FR0000131104
BIC BNPAFRPPXXX
founding May 23, 2000
Website www.group.bnpparibas
Business data 2018
Total assets 2040 billion euros (2018)
Employee 202,000 (2018)
management
Corporate management

Jean Lemierre ( Chairman )
Jean-Laurent Bonnafé ( CEO )

The BNP Paribas SA is a French banking giant , which on 23 May 2000 by the merger of Banque Nationale de Paris has arisen (BNP) and Banque Paribas. In terms of deposits, it was the largest bank in Europe in 2010, the third-largest bank in Europe in terms of market value in 2019 and the second-largest bank in Europe in terms of total assets. Together with Société Générale and Crédit Lyonnais , it is one of the three old commercial banks in France ("les trois vieilles") .

The bank is one of the 30 major global financial institutions that have been classified as globally systemically important by the Financial Stability Board . It is therefore subject to special monitoring and particularly strict requirements for the endowment with equity .

history

The Banque de Paris was founded in 1869 and merged in 1872 with the Banque de crédit et de dépôt des Pays-Bas, founded in Amsterdam in 1863, to form the Banque de Paris et des Pays-Bas ("Bank of Paris and the Netherlands"). In 1968 the financial holding company Compagnie Financière de Paris et des Pays-Bas emerged from it , and from 1982 Compagnie Financière de Paribas was nationalized .

The Banque Nationale de Paris (BNP) was created in 1966 from the merger of the Banque Nationale du Commerce et de l'Industrie (BNCI) with the Comptoir National d'Escompte de Paris ("Nationale Diskontbank Paris"; CNEP for short). It was privatized in 1993 .

In 1999, BNP fought a complicated takeover battle on the stock exchange with its competitor Société Générale , with Société Générale placing a bid for Paribas, which was answered by BNP with a counter-bid for Paribas and a bid for Société Générale. While the bid for Société Générale failed, the counter-bid for Paribas ultimately led to the merger of BNP and Paribas.

Until 2001, all of Iraq's income from the Oil for Food program was managed exclusively in a trustee account at BNP Paribas. After that, they were deposited with several unnamed international banks.

In 2002, BNP Paribas took over the German direct bank Consors based in Nuremberg, and in 2006 the sixth largest Italian bank, Banca Nazionale del Lavoro . From October 2008, BNP Paribas tried to take over Fortis Bank Belgium SA.

In the course of the financial crisis , the French government announced in January 2009 that it was ready to receive financial aid for BNP Paribas. In December 2008, the state had already taken over subordinated debt of EUR 2.55 billion from BNP, which it has now repaid at the end of March 2009. The Ministry of Finance announced on March 31, 2009 that the state-owned holding company SPPE Société de Prize de Participation de l'Etat would take over approx. 187 million preferred shares without voting rights for 5.1 billion euros BNP Paribas . This increases the tier 1 capital ratio to 8.4 percent and the equity tier 1 capital ratio to 6.5 percent. At the end of September 2009, the bank announced that it would undertake a capital increase to finance this measure . The issue of new shares with a value of € 4.3 billion is planned. According to this, the French state holds 17.03 percent of the shares and is the largest single shareholder ahead of the AXA insurance group and the employees of BNP with 4.8 percent each.

In some deals between 2002 and 2009, BNP Paribas violated US economic sanctions against Sudan, Iran and Cuba. In 2014, the bank pleaded guilty. By paying $ 8.83 billion, she avoided impending legal proceedings and saved her US banking license, which is necessary for doing business in the United States . However, BNP was banned from doing certain transactions in dollars for a year. In addition, 13 employees had to leave the institute.

In 2013, BNP Paribas is said to have had reserves worth 94.4 billion euros. In 2015 she managed assets of $ 582.97 billion.

Business activities

profile

In terms of market capitalization and net income , BNP Paribas is the largest bank in the euro area . It employs 188,000 people, 147,300 of whom are in Europe, and has a presence in more than 75 countries. The bank is active in the three core business areas “Retail Banking”, “Corporate and Institutional Banking” and “Investment Solutions”.

In France, BNP Paribas has 2,140 branches and 4,900 private banking ATMs with 6.9 million French households, 500,000 entrepreneurs and 20,000 corporate customers.

Expansion to China

On September 23, 2005, BNP Paribas acquired a 20% stake in the Chinese Nanjing City Commercial Bank , according to a Chinese official press report in the state press. The Oriental Morning Post from Shanghai explained that BNP paid US $ 100 million for this, although a bank employee denied the amount. However, he declined to provide further details. The French newspaper La Tribune reported that BNP Paribas spoke to four Chinese commercial banks - Ningbo, Wuxi, Nanjing and Suzhou - and was ready to invest between US $ 50 and 100 million.

“ We spoke to various credit institutions, but only BNP showed confidence. It was not easy for us to get a good deal, ”said an official from Nanjing City Commercial Bank. BNP declined to comment. The International Financial Corporation , the investment bank of the World Bank , already owns 15% of Nanjing City Commercial Bank, which has a regular application for listing on the national stock exchange of the country.

Takeover of the Belgian Fortis Group

On October 6, 2008, in the wake of the financial crisis from 2007 onwards, the French BNP Paribas took over 75 percent of the Belgian and 67 percent of the Luxembourg part of the Fortis Group for 14.5 billion euros. BNP took over 100% of the insurance business of the Fortis Group, with the exception of Fortis Netherland Insurance NV and excluding Fortis Insurance International (to which Fortis Deutschland Lebensversicherung AG also belongs as a subsidiary).

On the basis of lawsuits from small Belgian shareholders, a Belgian court ruled in mid-December 2008 that a takeover of the Fortis Group in Belgium should be suspended pending a decision by the shareholders. At the Fortis general meeting on February 11, 2009, 50.3 percent of the shareholders decided against splitting up the Fortis holding, against a partial sale to the Belgian state and against a resale to BNP Paribas.

The Fortis Bank Belgium was acquired by the Belgian state holding company SFPI / FPIM on 12 May, 2009. and renamed BNP Paribas Fortis .

Organization Germany (selection)

In Germany, BNP Paribas is represented with more than 5000 employees at 19 locations.

Brands of the German branch

  • Consorsbank , direct business
  • DAB BNP Paribas , for independent asset managers, fund brokers, investment advisors and institutional clients,
  • BNP Paribas Wealth Management, Private Banking
  • BNP Paribas Corporate & Institutional Banking, business customers

Subsidiaries and Subsidiaries

  • Consors Finanz BNP Paribas (emerged from the Commerz Finanz joint venture)

Organization international (other, selection)

UkrSibBank bank branch on Khreshchatyk in Kiev

Stock market data

BNP Paribas is on the Euro Next -Börse in Paris and the Tokyo Stock Exchange listed and owned by the French stock market index CAC 40 at.

Sponsorship

BNP Paribas is u. a. Sponsor of the Davis Cup and the French Open in tennis as well as shirt sponsor of RSC Anderlecht .

criticism

penalties

In September 2010, BNP Paribas, along with ten other banks, was fined € 381.1 million by the Conseil de la Concurrence . The banks had made an agreement according to which they would charge their customers 4.3 cents check fees per check from January 2002 to July 2007 in order to generate extra profits. This affected 80% of the checks used in France. Check transactions in France were free until 2002. After the intervention of the banking regulator, which called the profits "illegal", this practice was stopped. The banks in this cartel were also fined for excessive fees totaling 3.8 million euros. According to the Conseil de la Concurrence, BNP played a leading role in the cartel, which is why their penalty was 10% higher. It was increased by a further 20%, since BNP had already been sentenced to a penalty in 2000 for obstructing competition. On May 2, 2015, BNP Paribas, led by Jean-Laurent Bonnafé and Jean Lemierre, was sentenced again to US $ 140 million by US law enforcement agencies.

Anti-Semitic allegations

In 2016, BNP paid US $ 40 million to a Jewish employee as part of a settlement . Previously, BNP had repeatedly forced the employee to watch a training video in which the CEO of Deutsche Bank was parodied by Hitler . In the video, Nazi soldiers were portrayed as Deutsche Bank employees, in which the words "third Reich" and "great Polish operation" were also used. In addition, colleagues made anti-Semitic remarks, which were time barred.

Risk management affair

On May 28, 2016, the Focus published an article about a mistrade case worth 163 million euros, in which the BNP Paribas Arbitrage is said to be involved. The bank is said to have sold securities for 326,400 euros to Armin S. , the real value of which they subsequently put at 163 million euros. The bank should not have noticed the mistake for days, in the meantime BNP had even confirmed the price again in writing. According to the magazine, however, a cancellation of the transaction would only have been possible until the next day due to the mistrade regulation. In the article, his lawyer Mario Bögelein is quoted as follows: "A bank that does not notice a mistake of this magnitude is acting with gross negligence and is therefore not worthy of protection".

The Financial Times and FAZ published articles with further details in March 2018. It quotes from internal BNP documents and explains why the error was not noticed earlier: "As it turned out in the course of further research, a technical malfunction within the trading system from December 2nd, 2015 prevented all automated processing from this point in time concluded transactions in relation to secondary market transactions in structured products in the German market ” . The Financial Times estimates that 8,500 stores were affected in one week. Armin S. is quoted there with the words "I don't think it's fair if on the one hand, BNP wants to rely on statutory safeguard clauses but on the other hand they ignored all control-tasks imposed by the regulators - ECB, BaFin and AMF - for a whole week. " (" I don't think it is fair if BNP wants to invoke legal safeguards on the one hand, but on the other hand disregards all control mechanisms prescribed by regulators - ECB, BaFin and AMF - for a whole week. " )

Web links

Commons : BNP Paribas  - collection of images, videos and audio files

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ^ About the Group , on
  3. ^ The World's Largest Public Companies. Ranking 2019. Forbes, May 15, 2019, accessed November 16, 2019 .
  4. ↑ Francis Garrido, Saqib Chaudhry: The world's 100 large largest banks. S&P Global Intelligence, April 5, 2019, accessed November 16, 2019 .
  5. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF; 105 kB)
  6. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012
  7. ^ Historie de la Banque Paribas . Center d'Études Joan Bardina. Retrieved May 22, 2017.
  8. ↑ fax.net - France is taking over BNP Paribas preference shares for EUR 5.1 billion  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. from April 1, 2009@1@ 2Template: Dead Link / www.faz.net  
  9. ↑ Issue of 5.1 billion euros of non-voting shares as part of the French plan to support the economy ( Memento from December 25, 2015 in the web archive archive.today ), press release from March 31, 2009
  10. ↑ France's BNP Paribas increases capital
  11. ↑ www.apa.at ( Memento of the original from December 18, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.apa.at
  12. ↑ invest.bnpparibas.com ( Memento of the original from March 27, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / invest.bnpparibas.com
  13. ↑ Record fine for French bank in the USA - sanction violation costs BNP billions ( Memento from July 1, 2014 in the Internet Archive ), on www.tagesschau.de
  14. ^ J. William Carpenter: BNP Paribas Investment Partners: Investment Manager Highlight. March 21, 2016. Retrieved September 29, 2016 (American English).
  15. ↑ BNP Paribas takes over stake in Nanjing City Commercial Bank
  16. ↑ How the financial crisis changed the industry ( Memento from August 1, 2012 in the web archive archive.today ) Ftd: French take over Fortis
  17. ↑ Michael Stabenow: Shareholders snub the board. In: Frankfurter Allgemeine Zeitung . February 11, 2009, accessed December 6, 2014 .
  18. ↑ Fortis Bank press release, May 12, 2009
  19. ↑ BNP Paribas Fortis press release of May 15, 2009
  20. ↑ www.bnpparibas.de
  21. ^ Collusion in the banking sector . Press release of the Autorité de la concurrence of September 20, 2010, accessed on February 9, 2011.
  22. ↑ Holger Alich: France's banks should pay millions. In: handelsblatt.com. September 21, 2010, accessed December 6, 2014 .
  23. ↑ https://www.boerse-go.de/nachricht/bnp-paribas-in-usa-zu-140-millionen-dollar-strafe-veretzungt,a4192216.html
  24. ^ BNP Paribas to Pay $ 140 Million Fine in Sanctions Case , on wsj.com
  25. ↑ BNP Paribas to Pay $ 140 Million Fine in Sanctions Case , on finanzen.net
  26. ↑ BNP Paribas to Pay $ 140 Million Fine in Sanctions Case , on finanzen.ch
  27. ↑ BNP Paribas in USA fined 140 million dollars ( Memento from March 3, 2016 in the Internet Archive )
  28. ↑ http://www.nasdaq.com/article/bnp-paribas-to-pay-140-million-fine-in-sanctions-case-20150501-00777
  29. ↑ http://www.ad-hoc-news.de/bnp-paribas-will-pay-a-fine-of-140-million-and-face-a--/de/News/43428772
  30. ↑ Stewart Ain: $ 40M Lawsuit Over Bank's Nazi-Themed Training Video. In: jewishweek.timesofisrael.com. May 4, 2016, accessed February 4, 2017 .
  31. ↑ Oliver Simao: BNP Paribas reaches settlement over offensive Hitler parody video in training sessions. ORX News, May 24, 2016, accessed February 4, 2017 .
  32. ↑ a b Bank error in his favor. In: Focus Online. Retrieved July 1, 2016 .
  33. ↑ Millionaire on paper. In: InvestitionsPlus Magazin. Schutzgemeinschaft der Kapitalanleger, September 1, 2016, accessed on November 22, 2016 .
  34. ↑ Un trader réclame 161 millions d'euros à BNP Paribas . In: lesechos.fr . March 11, 2017 (French, lesechos.fr [accessed March 11, 2017]).
  35. ↑ Christian Siedenbiedel: "Mistrades": The 163 Million Euro Man? In: Frankfurter Allgemeine Zeitung . July 30, 2017, ISSN  0174-4909 ( faz.net [accessed August 1, 2017]).
  36. ↑ Christian Siedenbiedel: Bank error in your favor. Frankfurter Allgemeine Zeitung, March 10, 2018, accessed on March 24, 2018 .
  37. ↑ Caroline Binham: BNP Paribas failed to book trades in Germany for a week. Financial Times, March 9, 2018, accessed March 24, 2018 .