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LATEST ARTICLES
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Political instability in France, coupled with better EU-UK relations, could threaten Paris’ ability to rival London as a financial centre. But a focus on institutional clients among French and other EU banks is already helping London’s resilience – a trend that shows little sign of abating.
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The bank is leveraging all its resources to reach six million individuals by 2025. It is well on its way.
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French banks have not had the net interest margin bonanza that higher interest rates have offered many southern European banks recently. In fact, some French banks saw profit decreases in their domestic retail divisions last year, while areas like markets and vehicle leasing have been less of a support to group profit compared to the immediate post-pandemic period.
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The French bank has made steady progress in this business over the last decade and last year was a strong period of new mandates and client expansion.
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BNP Paribas has enviable sustainable finance credentials globally, but Latin America has become a particular area of strength for the French bank. In 2023, it led on some truly landmark transactions for clients throughout the region and can claim to be leading the evolution of sustainable finance in Latin America.
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The Belgian government’s retail bond programme last year, which pressured lenders to raise deposits, was just one element of a relatively tough environment for banks in Belgium. The country also sits at the opposite end of the spectrum to southern Europe in terms of the proportion of loans on floating-rate deals, meaning local banks benefit less from higher eurozone interest rates.
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It is not normally thought of as one of the banks with a large stronghold on central and eastern Europe. Nevertheless, BNP Paribas still owns relatively large banks in what are, in effect after the 2022 invasion of Ukraine, the region’s two biggest markets in terms of banking: Poland and Turkey.
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For a small economy, Luxembourg boasts many banks: 120 were authorized in 2023. Many of these primarily serve international clients, in particular providing securities services to institutional investors from across Europe and beyond.
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As the equity capital markets remained sluggish across Europe last year, financing activity was all about debt. So, it is perhaps no surprise that western Europe’s best bank for financing this year is the one that dominated the debt capital markets league tables working on 509 deals worth $128 billion equivalent for a 7% market share: BNP Paribas. Even in ECM, the French firm ranked number five behind sector leaders BofA Securities and Goldman Sachs.
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BNP Paribas Wealth Management operates across 17 countries, serving a client base of entrepreneurs, family offices and high net-worth individuals.
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The region’s tough economic history, coupled with its strength in soft and hard commodities, makes it best positioned to tackle today’s challenges.
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BNP Paribas Wealth Management operates across 17 countries, serving a client base of entrepreneurs, family offices and high net-worth individuals.
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BNP Paribas has been relentlessly fine-tuning its secondary equities business in Europe for more than a decade. While the primary focus has been on reaching an affordable offering for institutional investor customers of its markets business, clients of the wealth-management business are now also benefiting.
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BNP Paribas Wealth Management’s philanthropy solutions have been a noteworthy part of its wider positive impact offering since 2008. The firm aims to provide clients, free of charge, with proposals that fit each step of their philanthropic journey.
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BNP Paribas Wealth Management has been named Western Europe's best private bank for sustainability this year. One of the many factors supporting this decision is the banks’ ability to embed sustainability into all its product and services by prioritising portfolio assessment and the upskilling of its bankers.
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BNP Paribas Wealth Management shows “a strong dedication to enhancing the client experience through digital means, innovation and research”, according to the judging panel for this year’s private banking awards.
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BNP Paribas Wealth Management has been named Euromoney’s best international private bank in the Middle East for 2024.
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BNP Paribas Wealth Management has been named Asia’s best private bank for sustainability 2024 in recognition of the firm's comprehensive approach to environmental, social and governance integration and its commendable track record of financial performance.
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BNP Paribas Wealth Management is named Asia’s best private bank for digital solutions in 2024. This recognition comes on the back of a year that saw good digital growth and the implementation of a client-centric digital transformation strategy.
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BNP Paribas Wealth Management has been named Asia’s best bank for discretionary portfolio management (DPM) this year in recognition of its adept navigation of market headwinds and steadfast focus on client-centric service.
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At a group level, BNP Paribas Wealth Management is a perpetual leader in the ever-growing field of sustainability. In 2023, Euromoney called the Paris-based lender the world’s best bank for sustainable finance for the third year in a row. We cited its status as the poster child for providing sustainable banking at scale, and its big and bold shift away from fossil fuels.
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Boosting the role of corporate treasury by enabling it to centralize group-wide FX management may sound appealing, but implementation and cost challenges should not be underestimated.
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Collaboration between national banks has seen widespread adoption of mobile payments schemes. The French and German-led approach of focusing on a single European scheme could therefore be seen as a distraction. But is it the only real way of keeping US payment companies at bay?
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As a relative outsider, Slawomir Krupa might have appeared better suited to the chief executive job at Societe Generale precisely because it had done so badly under an establishment insider. BNP Paribas’ good performance, by contrast, would make the traditional background of its rumoured chief-executive-in-waiting, Marguerite Bérard, less of a barrier.
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BNP Paribas leads from the front in its development of trading technology. Innovation is at the heart of the business, and the focus on technology and product rollouts has involved notable developments to its FX algo suite.
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BNP Paribas has continually enhanced its e-books in spots, forwards and swaps over the last 12 to 18 months, which has allowed the business to provide greater liquidity and more competitive prices, even during the height of volatility.
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Euromoney Foreign Exchange Awards 2023: Global market leader – best FX market innovator: BNP ParibasThe evolution of ALiX is testimony to BNP Paribas’s commitment to innovation. Over the last four years this personal digital execution assistant has expanded to cover all available products in Cortex FX in one small widget that fits neatly in the corner of a client’s screen.
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With its pan-European team of 45 people in seven countries in continental Europe, including Belgium, France, Germany, Netherlands and the UK, BNP Paribas combines regional coverage with local expertise.
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Euromoney talks to Jacques Levet, chief digital officer at BNP Paribas, about the competitive advantage that newly acquired FX fintech Kantox offers.
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After buying parts of BNP Paribas and Societe Generale, Orabank is African banking group Vista’s boldest acquisition yet. Despite coups and sovereign debt distress, Vista’s founder and chairman Simon Tiemtoré tells Euromoney how he can succeed where other higher profile ventures have failed.
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BNP Paribas’s sustainability strategy for Latin America continues to mature, underpinning the bank’s strong position across the continent. The bank has made considerable efforts to deepen its focus on the three most important sustainability issues in Latin America: protecting biodiversity, promoting social development and decarbonizing hard-to-abate industries.
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In a quiet year for equity capital markets, BNP Paribas worked on the two main deals that took place: the $1 billion accelerated bookbuild for Energias de Portugal in March this year and the €53 million rights offer for Greenvolt Energias Renovaveis in July 2022.
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BNP Paribas’s wealth management team has had a stellar year. In Euromoney’s 2023 private banking awards, it was named Europe’s best private bank and the Middle East’s best private bank. It also won a hatfull of country awards, including best domestic private bank in France and best international private bank in Belgium and in Switzerland.
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BNP Paribas has also had an excellent year in its corporate and institutional banking division, particularly in its home region. The division posted record revenues in 2022, of €16.5 billion, up 16% on the previous year. The equity and prime services, global banking and securities services units all saw new highs, while global markets had its best year since 2009.
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With retail banking operations in Belgium, France, Italy and Luxembourg, BNP Paribas is the clear leader among a very small handful of European banks that have grown beyond being national champions in their home markets to serve personal customers across the continent.
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The lasting impact of Russia’s invasion of Ukraine on global energy markets has steered the sustainability conversation towards efficiency and practicality in western Europe. Beyond investing in low-carbon solutions to reduce the energy intensity of across a range of sectors, banks were preoccupied with clients’ transition plans to reduce their own financed emissions, while facing tougher disclosure regulations and public scrutiny of their continued financing of the oil and gas sector.
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BNP Paribas Fortis is Belgium’s best investment bank this year. It took the top position in the equity capital markets league table during the awards period, from second last year, with a 20% market share, having completed six transactions worth a total of €457 million.
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BGL BNP Paribas positioned itself as the strongest commercial bank in Luxembourg in 2022.
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BNP Paribas has a well-earned reputation for steadiness and stability. In the past year, its chief executive, Jean-Laurent Bonnafé, has also reinforced his strategic credentials with the bank’s well-timed exit from its US retail business. Today, the bank stands as the eurozone leader on the global stage and is ready to play a pivotal role in the continent’s financial development.
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The bank is prepared to make tough decisions to meet its sustainability targets.
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Societe Generale’s recent African exits, and BNP Paribas’s talks with Orange Bank, highlight how closely Europe’s banks tend to follow each other. Differences are often more a question of strength than strategy.
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The French bank joins HSBC, DBS and others in setting up a full-service wealth management offering in the stable southeast Asian country, with all transactions booked in nearby Singapore.
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BNP Paribas has put environmental, social and governance at the centre of its work over the last few years and BNP Paribas Wealth Management’s approach is no different. The bank, which last year took home the world’s best bank for ESG in Euromoney’s Awards for Excellence, has successfully integrated ESG across its offerings, not least with its innovative ‘myImpact’ app.
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BNP Paribas Wealth Management is named the best private bank in the Middle East in this year’s private banking awards.
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With offices in Dubai, Riyadh, Geneva and Luxembourg, BNP Paribas Wealth Management is well positioned to offer succession planning and wealth-transfer services across the Middle East.
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Amid strong competition between Europe’s leading private banks, the judges agree that BNP Paribas deserves to be recognised this year as the region’s best private bank, an award supported by two other honours: best for digital and discretionary portfolio management.
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Adding to its two other European awards this year, BNP Paribas Wealth Management wins the region’s Best private bank for digital award.
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Supporting its award as Europe’s Best private bank, BNP Paribas is the judges’ Best bank in the region for discretionary portfolio management, too.
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Banks like Santander, BNP Paribas and SocGen see auto finance and the future of mobility as critical pieces of their overall group strategies. But as mobility becomes an increasingly fractured business, what does the auto finance bank of the future look like?
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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The European Central Bank has made it clear that it would look favourably on big bank mergers to create stronger pan-eurozone lenders. But M&A between large lenders in different eurozone states is still stalling through financial and political fragmentation – despite hopes for a closer union after Brexit and the war in Ukraine.
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BNP Paribas has made an environmental, social and governance virtue out of its legacy commitment to the mining and energy sectors in Latin America. A decade ago, the bank saw which way the wind was blowing and, noting that it was towards renewable power turbines, moved early into sustainable finance.
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BNP Paribas is western Europe’s best bank for financing. It ranks first in the Dealogic bookrunner rankings in debt capital markets, ahead of Deutsche Bank in second place, JPMorgan in third, Barclays in fourth and HSBC fifth.
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While it has been a leader for many years in European debt and loan financing, BNP Paribas has in recent years built out its secondary markets businesses. It now includes a full service offering in equities as well as fixed income currencies and commodities (FICC) across research, secondary markets, prime services, derivatives and capital markets.
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Best Bank: BNP Paribas Fortis
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Best Investment Bank: BNP Paribas
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Always a strong candidate in this category, BNP Paribas has made great progress in its ambitious decarbonization commitments this year, in addition to prioritizing high social-impact and inclusive-finance goals.
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The French bank has been busy with landmark deals and financial innovation.
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The French bank has long had global scale in fixed income, now it has the same ambitions for its equity franchise too.
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From energy transition to Libor transition, the French bank is the go-to firm for many corporate clients in a time of flux. This is the result of longstanding relationships and new investment in core sectors of the franchise.
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The drive to make finance sustainable relies on robust data. This is something that the French bank has been working on for a decade.
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BNP Paribas’s top private banker talks to Euromoney about his love of Brittany’s rough seas, the power of ESG, and digital’s ability to transform and improve every step of the client journey.
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The rates sell-off is making it more expensive for high-yield and high-grade borrowers to access the bond markets. Maturities on offer are shortening, and it could be about to get much worse.
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Crossed wires on an analyst call had many scratching their heads.
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The acquisition of Bank of the West by Bank of Montreal is complementary and affordable, argues BMO’s chief executive Darryl White.
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BNP Paribas has in effect ruled out using the proceeds of its US retail bank sale on big bank M&A in Europe.
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Greater regulatory clarity, and perhaps a sale of Bank of the West, leave the French bank with the happy dilemma of what to do with excess capital.
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One sustainability expert takes humanizing the narrative to new levels.
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Sustainable finance and renewable energy are becoming more important for the French firm, as it reduces its emphasis on equity derivatives.
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Australia is not the first country that comes to mind with regards to climate action. But away from the political rhetoric, the exceptionally powerful superannuation funds and corporates are pushing change. The key is an acceptance that in Australia it’s all about transition.
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Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
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The French bank’s innovative and collaborative approach to data is central to its sustainable finance strategy.
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In a year when the race to net zero really got under way, biodiversity protection rose to the top of the agenda and Covid exacerbated the need for social support, one bank stood out for innovation, breadth of coverage and rigorous use of data
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In a tough year, quality and quantity mattered to the public sector. BNP Paribas offered both.
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As well as winning the best bank and best bank for financing awards, BNP Paribas is also western Europe’s best bank for sustainable finance.
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It’s not often any bank sits above JPMorgan in an important financing league table, but BNP Paribas far outstrips the US bank as a bookrunner both of syndicated loans and of debt capital markets deals for borrowers in western Europe.
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Business diversification has proved to be a crucial asset for BNP Paribas over the past year. Relatively intact operations such as fixed income trading have provided vital props to its financial performance compared with local rivals that had made deeper cuts to those businesses pre-Covid. Post-pandemic the bank has become even more important as a financier to its western European clients. It has also moved earlier than other top-tier global banks to burnish its sustainability credentials.
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The French lender’s wealth management university, introduced in 2017, is central to its ability to train private bankers to reach out and serve the high-net-worth clients the bank cannot afford to lose.
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The leading FX banks have introduced notable enhancements to their electronic trading platforms in recent months in an attempt to make them more attractive to traders that are still working away from their offices.
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In executing what may be the biggest European corporate Sofr-linked swap yet, BMW has shown what well-prepared company treasuries and their advisory banks can achieve as the sun sets on Libor.
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Analysts are positive about sterling’s prospects over the next few months, figuring that monetary policy flexibility and attractive UK equity prices will outweigh any downward pressure from the European Union – whether trade or coronavirus-related.
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In buying out its Exane equities joint venture partner, BNP Paribas reckons it can make a success of a business where few European peers have thrived. It also hopes to see a halo effect on underperforming franchises like ECM.
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Large-scale working from home has raised the spectre of internal fraud, and treasury departments are finding it harder to conduct effective investigations.
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After a year when credit markets propped up the financial performance of continental Europe’s biggest bank, concern remains about its credit risks.
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The chairman of UBS seems determined to force a wave of European banking consolidation. A merger of his firm with Credit Suisse may not be possible, but other deals are likely.
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With its unique model of direct lending to microfinance institutions and bringing large investors to the table, BNP Paribas has put financial inclusion at the heart of its agenda.
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BNP Paribas has shown itself to be a bank for global corporate clients of which Europe can be proud.
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Western Europe’s best investment bank, BNP Paribas, is increasingly central to capital markets across the continent. That’s been particularly clear since the onset of the coronavirus crisis.
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Crédit Agricole takes the lead in Western Europe in this year's Euromoney Awards for Excellence.
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Income, racial and gender inequality have been at the top of the news agenda for months. The financial sector now needs to go beyond programmes, initiatives and box-ticking and embed diversity and inclusion into all it does.