Banque National de Paris

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Banque Nationale de Paris S.A.
Traded asEuronextBNP, OTCQX:BNPQY
IndustryFinancial services
Founded1848; 175 years ago (1848)
HeadquartersBoulevard des Italiens, Paris, France
Area served
Key people
Michel Pebereau (CEO)
ProductsAsset management, consumer banking, corporate banking, credit cards, investment banking, mortgage loans, private banking, wealth management
Total assets€324.800
Number of employees

The Banque National De Paris is a bank.

History[change | change source]

In 1966, the French government combined two of the four state-owned banks, Comptoir National d'Escompte de Paris (CNEP) and the Banque Nationale pour le Commerce et l'Industrie (BNCI), into the new Banque Nationale de Paris (BNP).

In 1993, the French government privatized Banque Nationale de Paris.

In early 1999, Paribas agreed to a 15-billion (USD $17-billion) buyout offer from Société Générale. Not wanting to be left behind, however, rival Banque Nationale de Paris made a hostile USD $21-billion counter-offer for Paribas, and an unimaginable, separate USD 19.6-billion offer for Societe Generale (SocGen). BNP’s three-way merger proposal would have created the world's largest bank.

Share stock[change | change source]

Uncertainties surrounding BNP’s insane ambition resulted in a drop of its share price, reducing the combined value of the offers for Paribas and SocGen to USD $38.0-billion. For months, all three banks engaged in a public relations battle in an attempt to win support from the public, shareholders, and the French banking regulator. In the end, BNP succeeded in breaking SocGen and Paribas' merger plan, and acquired Paribas to form BNP Paribas. However, it could only secure 31.5% of SocGen's shares. The French banking regulator eventually vetoed BNP's merger plan to acquire Societe Generale.