BNP Paribas’ predecessors
The Group’s earliest forerunners were the comptoirs d’escompte, or discount banks, established in 1848 to address a severe economic and banking crisis that was affecting France at the time:
- TheComptoir National d’Escompte de Paris (CNEP)specialised very early on in international trade financing, and began to establish its pioneering international banking network in 1860. It was also a key player in corporate finance and in the financial markets.
- TheComptoir d’Escompte de Mulhouse, founded at the initiative of textile and manufacturing entrepreneurs, was taken over by its subsidiary, the Banque Nationale de Crédit, in 1930. This firm, which foundered during the crisis of 1932, was re-launched under the name ofBanque Nationale pour le Commerce et l’Industrie (BNCI). BNCI was notable for its dynamic commercial approach, its innovations and its creation of an international network based in Africa.
The birth of BNP, a major banking player
In 1945, CNEP and BNCI were nationalised. They merged in 1966 to form the first French state bank, theBanque Nationale de Paris (BNP). BNP was part of extending access to the banking system to the French population on a massive scale. In 1993, BNP was privatised under the leadership of Michel Pébereau, who profoundly transformed the company.
Paribas, the premier French investment bank
In 1999, after an intense stock market battle, BNP took control of Paribas. Founded in 1872,Paribas(then called the Banque de Paris et des Pays-Bas) rapidly became the leading French investment bank. It held stakes in a large number of companies and specialised in the financial markets and in infrastructure finance. In 1998, Paribas took over theCompagnie Bancaire, a financial services company created in 1946 and a crucible that forged pioneering companies such as Cetelem (1953).
A world-class European leader since 2000
TheBNP Paribas Groupwas created in 2000 and has become a strong European leader, following the integration of several banks that were themselves rich in history:
- 2001: Bank of the West, founded in the United States in 1874
- 2005: TEB,Türk Ekonomi Bankası, in Turkey, whose origins date back to 1927
- 2006: BNL, Banca Nazionale del Lavoro, created in Italy in 1913
- 2009: Fortis Bank (later BNP Paribas Fortis), created in 1999 following the merger between the Generale Bank (formerly the Société Générale de Belgique, founded in 1822) and the Caisse Générale d’Epargne et de Retraite (CGER)/Algemene Spaar- en Lijfrentekas (ASLK), established in 1865.
- 2009: BGL, Banque Générale du Luxembourg, created in 1919
To read more information about the History of BNP Paribas, click below
FAQs
The BNP Paribas Group was created in 2000 and has become a strong European leader, following the integration of several banks that were themselves rich in history: 2001: Bank of the West, founded in the United States in 1874. 2005: TEB, Türk Ekonomi Bankası, in Turkey, whose origins date back to 1927.
What is the history of BNP Paribas? ›
BNP Paribas (sometimes referred to as BNPP or BNP) is a multinational universal bank and financial services holding company headquartered in Paris. It was founded in 2000 from the merger of two of France's foremost financial institutions, Banque Nationale de Paris (BNP) and Paribas.
What is the BNP Paribas bank scandal? ›
The bank had in 2014 agreed to plead guilty and pay an $8.97 billion penalty to settle U.S. charges it transferred billions of dollars for Sudanese, Iranian and Cuban entities subject to economic sanctions.
What does Paribas mean in BNP Paribas? ›
The Banque de Paris et des Pays-Bas (“Bank of Paris and the Netherlands”), generally referred to from 1982 as Paribas, was a French investment bank based in Paris. In May 2000, it merged with the Banque Nationale de Paris to form BNP Paribas.
What is BNP Paribas famous for? ›
BNP Paribas, the leading bank in the European Union
Investment & Protection Services (IPS) for savings, investment and protection solutions; Corporate & Institutional Banking (CIB), which serves two client franchises: Corporate clients and institutional investors.
Who is BNP Paribas owned by? ›
Share ownership
| In % of voting rights | |
|---|
| BlackRock Inc. (1) | 6.9% |
|---|
| Retail shareholders (4) | 5.9% |
| European institutional investors (4) | 37.7% |
| Non-European institutional investors (4) | 32.5% |
5 more rowsBoldness, creativity, youth, accessibility and inclusion are the hallmarks of our cultural initiatives. The BNP Paribas Foundation places artistic creativity and access to culture at the heart of its cultural philanthropy.
Is BNP Paribas in trouble? ›
BNP Paribas Agrees to Plead Guilty and to Pay $8.9 Billion for Illegally Processing Financial Transactions for Countries Subject to U.S. Economic Sanctions.
Is BNP Paribas a prestigious bank? ›
BNP Paribas is one of the world's largest—and most progressive—banking firms. It's been named a Best Place to Work for LGBTQ+ Equality by the Human Rights Campaign. It has resource groups dedicated to raising awareness of disability- and mental health-related issues.
Is BNP Paribas a safe bank? ›
BNP Paribas has a well-earned reputation for steadiness and stability.
The highest-paying job at BNP Paribas is a Director with a salary of ₹93.3 Lakhs per year. The top 10% of employees earn more than ₹21 lakhs per year.
Is BNP Paribas doing well? ›
The euro zone's biggest bank, led by company veteran Jean-Laurent Bonnafe, has made its investment banking division a key driver of its growth plan and sees annual revenues from market activities rising by more than 7.5% on average over 2021-2025.
Is BNP Paribas stable? ›
Fitch Ratings - Paris - 13 Sep 2022: Fitch Ratings has affirmed BNP Paribas S.A.'s (BNPP) Long-Term Issuer Default Rating (IDR) at 'A+' and Viability Rating (VR) at 'a+'. The Outlook is Stable.
Is BNP Paribas better than JP Morgan? ›
J.P. Morgan scored higher in 9 areas: Overall Rating, Culture & Values, Diversity & Inclusion, Senior Management, Compensation & Benefits, Career Opportunities, CEO Approval, Recommend to a friend and Positive Business Outlook. BNP Paribas scored higher in 1 area: Work-life balance.
Where is BNP Paribas headquarters in the US? ›
BNP Paribas USA is headquartered in New York, NY. In the heart of vibrant Times Square and New York City's famed theater district, our building at 787 Seventh Avenue likewise radiates positive energy, from our trading floors to our collaborative working spaces.
What is the new name of BNP Paribas? ›
Baroda BNP Paribas Mutual Fund is a joint venture between the Bank of Baroda and BNP Paribas Asset Management Asia Ltd. On October 11, 2019, these 2 companies came into a binding agreement to merge their AMC and Trustee Companies. March 14, 2022, marked the period when the entities got merged effectively.
What are the four core values of BNP Paribas? ›
The BNP Paribas group is structured on guiding principles. They are deeply rooted in the values of the group which create unity and cohesion through common action. BNP Paribas has defined four core values: responsiveness, creativity, commitment, and ambition.
