Banque Nationale de Paris(redirected from BNP Paribas)
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Banque Nationale de Paris
(National Bank of Paris), a major French bank of deposit, one of the ten largest commercial banks in the world. The bank was founded in 1966 through the merger of one of the country’s largest banks of deposit—the Banque Nationale Pour le Commerce et L’Industrie, founded in 1932—with one of the oldest banks of deposit—the Comptoir National Descompte de Paris, founded in 1848; both banks were nationalized in 1945. In practice, the interests of the Banque Nationale are interwoven with almost all the country’s major private monopolies.
Along with extending short-term credits to key sectors of the French economy through its specialized affiliates, the Banque Nationale de Paris provides long-term credits; is co-owner of various industrial enterprises, encouraging their reorganization and consolidation for purposes of industrial expansion; guarantees and sells stocks and bonds of state and private enterprises; and actively tries to attract small depositors while promoting the sale of securities through its own investment houses. In the area of foreign trade, the bank specializes in financing major construction and industrial projects carried out abroad by French companies. The Banque Nationale also participates in the issuance of stocks and long-term loans and in the formation of international financial associations. Together with the biggest banks of the other Common Market countries and of the United States, the Banque Nationale helped create the European Financial Society for the medium- and long-term financing of capital investments.
The bank has more than 2, 000 branches in France and is represented abroad on every continent by 52 branches and 15 representative agencies, including one in Moscow since January 1974. The bank also has a network of subsidiary banks and holdings in other banks located in 194 cities. As of Jan. 1, 1973, total assets of the Banque Nationale were 101.7 billion francs, with 1.0 billion francs in reserves, 84.0 billion francs in deposits, and 64.3 billion francs outstanding in discount and loan operations.
K. A. SHTROM