A EUROPEAN LEADER – SINCE 2000

BNP Paribas was created on 23 May 2000 with the ambition of forming a European banking group capable of meeting the challenges of digitisation and a rapidly changing world.

A historic stock market battle

Michel Pébereau had a vision of building a competitive European banking force. He approached several French banks in succession with a view to joining forces with them, but his arguments failed to win over his potential partners. In 1999, when the proposed merger of Société Générale and Paribas was announced, he seized the opportunity to launch a bold takeover bid – a first in France – which took the Paris stock exchange by surprise. In what he called the “SBP project”, BNP simultaneously launched unsolicited bids on Société Générale and Paribas based on share exchange offers. After a six-month battle, BNP took control of Paribas. However, the central bank (Banque de France) refused to allow BNP to take a majority stake in Société Générale.

Poster promoting the double takeover bid for Société générale et Paribas, 1999 - BNP Paribas Historical Archives
Poster promoting the double takeover bid for Société générale et Paribas, 1999 – BNP Paribas Historical Archives

BNP Paribas: a successful merger

The period following BNP’s offensive saw the gradual formation of a leader in the European banking sector. The harmonious and balanced integration of the staff employed by the two constituent banks ensured consistent management, and the best systems and services of each bank were retained. The creation of the BNP Paribas brand, capitalising on both traditions, with a new logo, and a new brand slogan – “The bank for a changing world” – established a strong international profile. Governance evolved until the positions of Chairman and Chief Executive Officer were separated in 2003, with remarkable stability.

New brand BNP Paribas : the taking flight symbol and the signature "The bank for a changing world" , 2000 - BNP Paribas Historical Archives
New brand BNP Paribas : the taking flight symbol and the signature “The bank for a changing world”
, 2000 – BNP Paribas Historical Archives

A cautious acquisition strategy

The bank’s Management was wary of new acquisitions at any price and waited patiently to find the right partners and develop a balanced business model. Multiple takeovers, notably under the aegis of Baudouin-Prot after his appointment as Deputy  Director in 2003, marked a change in the size of the Group. The most recent deals have been overseen by a new Management team: Jean-Laurent Bonnafé was appointed Chief Executive Officer of the Group in 2011 and Jean Lemierre, former Chairman of the EBRD, became Chairman in 2014.

7 key dates for BNP Paribas acquisitions

  • 2001: BNP Paribas purchases all the share capital in its US subsidiary Bank of the West, operating in the western United States and Hawaii
  • 2002: Consors is absorbed by Cortal, bringing additional specialised financial expertise.
  • 2009: the huge deal resulting in the acquisition of Fortis Bank in Belgium and its subsidiary BGL in Luxembourg added two more “domestic” markets to the Group.
  • 2013: BNP Paribas launches Hello bank! a fully mobile digital bank in France, Germany and Belgium.
  • 2014, BNP Paribas acquires Bank BGZ in Poland from Dutch bank Rabobank; that same year, in a major step for its development in Germany, it acquired digital broker DAB Bank AG; in France, it expanded its stake in LaSer, a major consumer credit player in France.
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Learn more about the history of the BNP Paribas Group through this quiz

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1. Since when has BNP Paribas been a partner of Roland-Garros ?

Roland-Garros tennis court

Explanation

Although BNCI, the forerunner of BNP, sponsored the Tour de France in the 1950s, history between BNP Paribas and Roland-Garros officially began in 1973. Over the years, this large-scale tournament has gained a growing reputation and global media coverage. BNP and then BNP Paribas continued this partnership faithfully. For 45 years, the bank has been supporting tennis, sharing the values of fair play, responsiveness and performance.

Today, global tennis partner number 1, the Group sponsors the largest events and has created a worldwide community of tennis fans with its dedicated wearetennis.com website.

In 2018, the Group also launched an unprecedented programme to support young French tennis talents in their progression, "Team BNP Paribas Jeunes Talents”, in association with the French tennis federation.

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2. BNP Paribas’ oldest ancestor was born in ?

Explanation

In 1822 King William I established the General Society of the Netherlands to promote national industry.

The Brussels-based limited liability company is intended to assist the economic and industrial development of the Kingdom.
After the creation of Belgium in 1830, it became known as Société générale de Belgique. From 1822 to 1998, the institution changed its name several times and underwent mergers. In 1998, she joined the Belgian-Dutch Fortis Group. Then in 2009, BNP Paribas purchased the Belgian branch of Fortis, which became BNP Paribas Fortis.

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3. The Comptoir National d’Escompte de Paris (CNEP), one of BNP Paribas’ ancestor banks, was created by …

Archives historiques BNP Paribas

Explanation

The CNEP was set up on 8 March 1848 under the joint action of the State, the City of Paris and a group of booksellers in Paris. The latter, like many entrepreneurs and traders, are indeed weakened by the economic crisis that is paralysing France. The CNEP’s original purpose is to carry out discount operations to boost short-term credit to entrepreneurs and restore confidence.

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4. BNP Paribas is also heir to the Bank of Paris and the Netherlands, which was active from 1872 to 1999. What were its main activities ?

Explanation

The Bank of Paris and the Netherlands was founded in 1872 by French and German bankers. It is a French-language merchant bank, whose activities focus on two areas: managing financial transactions in the markets and financing businesses. Its specificity: it does not have its own banking network but relies on correspondents around the world, and it also forms alliances with other houses. It has specialised in financing exports of capital goods worldwide since the 1950s and major industrial projects.

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5. Where were the first branches of the Comptoir National d’Escompte de Paris (CNEP) opened?

Explanation

In 1860, in the context of the Free Trade Treaty, the CNEP moved to Calcutta and Shanghai even before establishing a network of agencies in France. Its role was to support the French trade networks abroad (importers of raw materials, particularly cotton). That is also why it began in Australia in Melbourne and Sydney in 1881 (wool industry). Its international dimension continued to expand: Hong Kong (1862), San Francisco (1877), and Chicago (1893). In France, he opened his first branch in Nantes in 1867, followed by Lyon (1868) and Marseille (1869). BNP Paribas continues this international tradition and is present in 73 countries.

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6. In what year was BNP created ?

Explanation
On 4 May 1966, the Ministry of Finance announced the merger of the Banque Nationale pour le Commerce et l’Industrie (BNCI) and the Comptoir National d’Escompte de Paris (CNEP) into an institution known as Banque Nationale de Paris (BNP).
This rapprochement takes place in the context of banking reforms and concentration initiated by Finance Minister Michel Debré.
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The choice of the name “Banque Nationale de Paris” sums up the scope and objectives of the merger: to create a modern bank, serving the national economy, whose influence will enhance Paris’s place in the international financial world.

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7. In 2006, BNP Paribas purchased an Italian bank, BNL. In which city was it founded ?

Affiche de la BNL où est inscrit "Depuis 60 ans au service du cinéma italien" - Archives historiques BNP Paribas

Explanation

BNL is one of the main players in Italy’s development. It was founded in Rome in 1913, initially to support the cooperative movement in the country. At that time, the predominantly rural Italian economy had to industrialize. Its public dimension means that it is the only large Italian bank born in Rome, while Milan is the country’s financial centre.

BNL, a bank serving the Italian national economy, also distinguished itself by establishing in 1935 an autonomous department specialising in film credit. The section provides medium and long-term credits for film production, distribution and trade in Italy and abroad. Nearly 5,000 films were supported between 1935 and 2015.

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8. In 2014, BNP Paribas purchased the Polish bank BGŻ. Which sector does it primarily finance ?

Billet Polonais Mark

Explanation

The origins of BGŻ go back to 1919, when a state agricultural bank was created. This public institution essentially grants loans to farmers to enable them to buy land and acquire means of production. But it also finances irrigation, the purchase of fertilisers… Livestock farming and processing also benefit from serious modernisation. In 2014, BNP Paribas bought out BGŻ. Then in 2015, the Group merged its activities in Poland with those of BGŻ BNP Paribas. This group continues to be a leader in agri-business and the food sector and is also well placed in consumer credit and corporate banking.

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9. When was the Cetelem subsidiary set up, dedicated to consumer credit?

Frahbnpp 3af272 Scaled

Explanation

Today, credit has gradually developed in France since the 1920s. Consumer credit, launched in the 1950s, marks a turning point in society. Cetelem, a subsidiary of BNP Paribas set up in 1953, is one of its historical players.

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10. When did the banks recruit women ?

Explanation

Until the 1880s, a bank clerk was a man.

However, with the creation of new administrative services, the first jobs for women in large financial institutions have come.
In 1914, they accounted for about 25% of the CNEP’s Paris workforce (700 out of 3000).

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11. What is the name of the training organisation dedicated to banking’s businesses in France?

Explanation

The bank is one of the few professions to have built such a comprehensive technical education system and to have been concerned with managing the skills development of its employees. It awards diplomas recognised by the State. The Centre d’enseignement technique de banque was set up in 1932, but in 1972 it became a training centre for the banking profession following the Law of 16 July 1971.

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12. In what year was the first computer installed at BNP Paribas?

Explanation

In 957 the CNEP controlled the largest computer developed in Europe, the Bull Gamma 60. It thus moves directly from mechanography (a set of mechanical and electro-mechanical techniques for calculating and publishing information) to a large, ultra-modern system developed with novel components. As soon as it became operational in March 1961 (training and integration periods were necessary), the computer was operated continuously.

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A Group with deep roots in a rich history

In the course of the 2000s, the Group’s family tree grew with the arrival of new entities that brought their own history with them. The history of Fortis is the history of Belgian industrialisation. The Belgian subsidiary of the BNP Paribas Group grew out of Algemeene Nederlandsche Maatschappij, which was founded in 1822 by royal decree to promote industry before Belgium even became a country. It remained the national bank under the name Société Générale de Belgique after independence in 1830, and later absorbed Compagnie Générale d’Epargne et de Retraite (CGER), founded in 1865.

Banque Générale du Luxembourg, created in 1919 by Société Générale de Belgique, added its own chapter, telling the story of the development of financial services in the Grand Duchy.

BNL, founded in Rome in 1913, has always been a key partner in the Italian economy, and its renowned expertise in financing the Italian film industry dates back to 1935.

Bank of the West came to the American West in 1874 and First Hawaiian Bank began offering its services in 1856. TEB, the pioneering private bank in Turkey, is the descendant of a regional bank established in 1927.

BGZ, the last bank to join the Group, financed the Food & Beverage sector in Poland from 1919.

Faced with many changes in the global economic environment, the Group has demonstrated that the integration of different histories and cultures within a single entity can be a significant advantage in helping to creatively meet the challenges of funding the economy and meeting customer needs in the 21st century

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