“BNP Paribas’ robust business model has a track record of delivering strong and diversified earning streams from all its business lines,” says CEO Baudouin Prot. “This is thanks to its excellent client franchises and the quality of it teams. While obviously not immune to the financial crisis, BNP Paribas’ stringent risk policy culture and good cost control during these difficult times have positioned it well to continue growing organically over the cycle. The recent acquisition of Fortis will present BNP Paribas with a unique opportunity to expand its pan-European footprint and become the largest bank in the eurozone in terms of deposits.”
Innovation continues to figure at the forefront of the bank’s competitive position. Last year saw a number of innovative moves in recruitment, delivery channels and products, such as an Islamic shipping deal, Diva Index and Conto Revolution.
BNP Paribas’ business model, its management and its stringent risk policies have all been successfully put to the test in the current crisis. The bank has shown that its risk taking is in line with past declarations. The group’s customers are not suffering the fall out from the credit crunch and continue to receive assistance for their development projects at a time when many are scaling back on lending.
