BNP Paribas : Ask Biography

Home | Company | BNP Paribas

BNP Paribas S.A. is the largest global banking group in the world, headquartered in Paris with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000. In April 2009, BNP Paribas purchased a 75 percent stake in Fortis Bank, the Belgian banking business, making BNP the eurozone's largest bank by deposits held.

BNP Paribas escaped the 2007 � 09 credit crisis relatively unscathed reporting a -3bn net profit for the year of 2008, and -5.8 for 2009, both years boosted by profits from trading in its BNPPCIB (Corporate and Investment Banking) division. BNP Paribas has one of the highest credit ratings in its peer group with the long term debt of the group currently ranked AA by S&P, Aa2 by Moody's and AA- by Fitch.

The firm is a universal bank split into three strategic business units: Retail Banking, Corporate & Investment Banking, and Investment Solutions (which includes Asset Management, custodial banking, and real estate services.)

BNP Paribas's four domestic markets are France, Italy, Belgium and Luxembourg. It also has significant retail operations in the United States, Poland, Turkey, Ukraine and North Africa, as well as large scale investment banking operations in New York, London, Hong Kong, and Singapore.