FOREIGN BANK OF INDIA – BNP PARIBAS BANK
FOREIGN BANK OF INDIA – BNP PARIBAS BANK
BNP Paribas Bank S.A. is the largest global banking group in the world, headquartered in Paris with its second global headquarters in London. In Oct 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 the BNP Paribas purchased a 75% stake in Fortis Bank, in the Belgian banking business, making BNP the eurozone’s largest bank by deposits held.
BNP Paribas Bank 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’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.