Three years ago, BNP Paribas was predominantly a French operation. It had BancWest in the US but the bulk of its revenues came from France, where the majority of its 90,000 employees were based. Fast forward to 2008 and the picture looks completely different. French retail only accounts for 19% of group revenue. The corporate and investment banking (CIB) operation is a global business with more revenues out of Asia than out of France. Of group revenues, 78% is generated out of Europe – with Italy playing a key role – 11% out of the US and 11% from the rest of the world. There are significant investments in the Ukraine, Turkey and Libya (the bank sees the Mediterranean, the Middle East and north Africa as core territory) as well as a growing but less flamboyant presence in the BRIC countries: Brazil, Russia, India and China.
The head count has mushroomed to 160,000, of which a little more than a third (60,000) are based in France; 60,000 are based in the rest of Europe and 40,000 in the rest of the world. Following on from the critical takeover of Italy’s Banca Nazionale del Lavoro (BNL) in 2006, BNPP now has 20,000 employees in Italy.
