BNP Paribas

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Posted by sonny 03/20/2009 @ 05:10

Tags : bnp paribas, banking, finance

News headlines
BNP Paribas' Weight In CAC 40 Index Set To Rise-NYSE Euronext - Wall Street Journal
PARIS (Dow Jones)--French bank BNP Paribas (BNP.FR) is set to represent a bigger part of the benchmark CAC 40 index after issuing new shares as part of a deal to buy part of Belgian bank Fortis (FORB.BT), stock market operator NYSE Euronext (NYX) said...
Dollar Seen Slipping as Safety Plays Wane - Wall Street Journal
"Global investors are gradually moving away from safe havens and increasingly willing to take on more risk," currency analysts at BNP Paribas said in a note to clients. But chances of seeing a rout in the dollar are slim, as reports last week that...
JGB futures up on stocks, Moody's ups local debt - Reuters
T] "The JGB market is watching whether the Nikkei will fall and stay below 9000 points, which would be closer to the JGB market's view on the economy," said Takafumi Yamawaki, senior bond strategist at BNP Paribas. Debt market investors expect the...
BNP Paribas take control of BGL - Station
BNP Paribas now controls 65.96% of the bank. The details mentioned in October were at a stage when the Luxembourg government stepped in to save the bank from collapse. The shareholders and the European Commission then gave their go-ahead for the sale...
BNP Paribas 1Q profit drops 21 percent - Forbes
By GREG KELLER , 05.06.09, 05:00 AM EDT French bank BNP Paribas said Wednesday its net profit slumped 21 percent in the first quarter as its retail banking activities in the United States were hammered amid the global economic downturn....
Ex-BNP Structuring Chief Tipped For Goldman - DW Online
Hector Chan, head of fx and interest rate derivatives structuring in Asia for BNP Paribas, has left and market officials say he is expected to join Goldman Sachs in Hong Kong in a similar role. Chan left the bank within the last three weeks....
BASF offers 500 mln euro tap of 2015 bond -IFR - Reuters
The German company has set final guidance at mid-swaps plus 145 basis points, tightening from an initial level of plus around 150 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service. BNP Paribas, Royal Bank of...
BRIEF-BNP Paribas raises Malaysia's Bumi-Commerce target to 7.50 rgt - Forbes
* Bumiputra-Commerce recorded 1Q09 core net earnings of MYR513.8m (+54.6% qq; -3.8% yy) which were above our expectation but were in line with the Street's. * We believe that new NPL formation has remained stable despite tough economic conditions....
Fortis Gets Approval for Bank Sale to BNP Paribas - Bloomberg
By John Martens and Fabio Benedetti-Valentini April 28 (Bloomberg) -- Fortis won investor backing for the sale of banking units in Belgium and Luxembourg to BNP Paribas SA, overcoming months of shareholder opposition to the breakup of what was once...
MTS Signs Syndicated Loan Agreement >MBT - Wall Street Journal
SH), Bank of America (BAC), Bayerische Landesbank, BNP Paribas (BNP.FR), Credit Suisse (CS), Export Development Canada, HSBC Bank PLC (HBC), ING Bank NV, JPMorgan Chase Bank (JPM), Soci??t?? G??n??rale (SCGLY), Royal Bank of Scotland PLC (RBS),...

BNP Paribas

BNPP BL Sign E Q.png

BNP Paribas (Euronext: BNP, TYO: 8665) is one of the main banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. Together with Société Générale and Crédit Lyonnais (now known as LCL), it is one of the "three old" banks of France. It is a constituent of the CAC 40 index.

On 9 August 2007, BNP Paribas announced that it could not fairly value the underlying assets in three funds as a result of exposure to U.S. subprime mortgage lending markets. Faced with potentially massive (though unquantifiable) exposure, the European Central Bank (ECB) immediately stepped in to ease market worries by opening lines of €96.8 billion (then US$130 billion) in low-interest credit. The long term debt of the group is currently ranked AA+ by S&P, Aa1 by Moody's and AA by Fitch.

After the end of World War II, the French State decided to "put banks and credit to work for national reconstruction". 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 in these 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 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. Claude de Kemoularia was an important executive in the bank in the 1960s and 1970s.

In 1999, BNP and Société Générale fought a complex battle on the stock market, with Société Générale bidding for Paribas and BNP bidding for Société Générale and counter-bidding for Paribas. BNP's bid for Société Générale failed, while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later on 22 May 2000.

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 negociated for only a 75% partnership in Fortis Bank Belgium. Fortis Insurance Belgium would be reintegrated in Fortis Holding.

On 11 February, Fortis' shareholders decided that Fortis Bank Belgium and Fortis Insurance Belgium does not become property of BNPparibas. Nowadays, Fortis Holing only consists of Insurances all over Europe and Asia. Fortis Bank Belgium & Netherlands is in the hands of the national government.

BNP Paribas is the largest bank in the Eurozone by total assets and second largest by market capitalization according to The Banker magazine. It employs 162,700 people, of which 80,000 work in Europe, and maintains a presence in 87 countries. The bank is active in the finance, investment and asset management markets.

In France, BNP Paribas is active in retail banking with 2,200 branches and over 3,200 ATM machines. In Paris alone the Bank has 187 agencies. BNP Paribas serves over 6 million French households and 60,000 corporate customers.

In the United States, BNP Paribas owns Bank of the West. It also has investment banking capabilities via its BancWest subsidiary. In particular, it is strong in equity derivatives, structured products and project finance. In addition, BNP Paribas maintains a strong middle market merchant banking group. This group focuses on providing leveraged acquisition finance to private equity sponsored leveraged buyouts, both through senior secured syndicated loans, high yield bond offerings, equity co-investment, and mezzanine financing.

BNP Paribas is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are Barclays (United Kingdom), Bank of America (United States), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand).

On 11 June 2008, BNP Paribas formally signed the final terms of an agreement to purchase the Prime Brokerage Services division of Banc of America Securities. The sale is widely believed to be completed by the end of the 3rd Quarter, 2008.

On 23 September 2005, BNP Paribas was set to take a 20 percent stake in China's Nanjing City Commercial Bank, a Chinese official and state press reports said. "BNP is going to sign a deal with us to buy a stake next month," an official from Nanjing City Commercial told AFP. The Shanghai-based Oriental Morning Post said BNP would pay up to US$100 million, although the bank official said the figure was incorrect. He declined to give further details. The French newspaper La Tribune reported in August 2005 that BNP Paribas had talked to four Chinese commercial banks—Ningbo, Wuxi, Nanjing and Suzhou—and was prepared to invest US$50–100 million. "We've talked to different financial institutions, but only BNP showed its good faith. It was not easy for us to reach an agreement," the Nanjing City Commercial Bank official said. BNP Paribas refused to comment. The International Financial Corporation, the investment arm of the World Bank, already owns 15 percent of Nanjing City Commercial Bank, which has regulatory approval to list on the country's domestic stock markets.

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2006 BNP Paribas Masters

The 2006 Paris Masters (also known as the BNP Paribas Masters for sponsorship reasons) was a tennis tournament played on indoor carpet courts. It was the 32nd edition of the Paris Masters, and was part of the ATP Masters Series of the 2006 ATP Tour. It took place at the Palais omnisports de Paris-Bercy in Paris, France, from October 30 through November 6, 2006.

The announced singles draw featured World No. 1, Australian Open, Wimbledon and US Open champion, French Open runner-up, Indian Wells, Miami, Toronto and 2006 Madrid Masters winner Roger Federer, ATP No. 2 French Open, Monte Carlo and Rome titlist Rafael Nadal, and third-ranked Australian Open and French Open semifinalist, Estoril winner David Nalbandian. Also lined up were US Open semifinalist, Pörtschach, Sopot, New Haven and Moscow champion Nikolay Davydenko, Vienna, Madrid and Basel finalist Fernando Gonzalez, Tommy Robredo, James Blake and Tomas Berdych.

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2005 BNP Paribas Masters

The 2005 Paris Masters (also known as the BNP Paribas Masters for sponsorship reasons) was a tennis tournament played on indoor carpet courts. It was the 31st edition of the Paris Masters, and was part of the ATP Masters Series of the 2006 ATP Tour. It took place at the Palais omnisports de Paris-Bercy in Paris, France, from October 31 through November 6, 2005.

The singles line up included ATP No. 3, Wimbledon and Indianapolis runner-up, Cincinnati champion Andy Roddick, US Open quarterfinalist, Umag winner, Monte Carlo, Rome and Beijing finalist Guillermo Coria, and French Open semifinalist, St. Pölten winner Nikolay Davydenko. Other top seeds were French Open runner-up, Casablanca titlist Mariano Puerta, Munich winner David Nalbandian, Ivan Ljubicic, Gaston Gaudio and Radek Stepanek.

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2009 BNP Paribas Open

Men's defending champion Novak Djokovic

The 2009 BNP Paribas Open is a tennis tournament played on outdoor hard courts. It is the 33rd edition of the event but the first edition whose title sponsor is BNP Paribas. It is classified as an ATP World Tour Masters 1000 event on the 2009 ATP World Tour and a Premier Mandatory event on the 2009 WTA Tour. Both the men's and the women's events will take place at the Indian Wells Tennis Garden in Indian Wells, California, United States March 9–March 22.

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Source : Wikipedia