Why have we created a specific set up for our international clients?
Ioana LET-PIVARU: I see two main reasons for this.
The first is to assert our European leadership. As an international bank, and in particular as the largest European bank, we need to assert our leading position in the international client segment. And this is true both for our expatriate clients and prospects who wish to maintain a link with France with a view to returning, and for international prospects wishing to invest in France. This will enable us to raise our profile in an ecosystem limited to a small number of players.
A set up to support our integrated model
Secondly, it complements the Bank’s diversified business model with expertise in non-resident clients, enabling us to nurture internal synergies in a buoyant and fast-growing client segment. Synergies between the Non-Residents division and the rest of Commercial Banking in France and the Group: almost 400 successful onboardings in 2023, a new record.
What are the main advantages of the BNP Paribas Non-Residents set up?
Ioana LET-PIVARU: First and foremost, it sets us apart, since it is unique in the French banking world. It is made up of a network of 27 branches (including 9 geo-specialised branches in Paris), a Private Banking Centre, a Wealth Management team, an Entrepreneurs’ Area and a remote support team dedicated to everyday needs. Its offering covers all banking needs, from day-to-day banking to support for the most complex property and financial investment projects.
Our Non-Resident clients are present in 220 countries, so it’s essential to offer them a range of products and services tailored to the different regulations.
What type of clients are supported?
Ioana LET-PIVARU: We provide support for managers and employees with international careers, for people wishing to invest in France in property or on the stock market while living abroad, and for companies incorporated under foreign law, subsidiaries of international groups (under certain conditions) and diplomatic missions.
'BNP Paribas has developed unique expertise in the Non-Residents segment, enabling us to provide tailor-made solutions for our clients living abroad. The next few years will be dedicated to enhancing our offering so that we can continue to provide the best possible service and reinforce our customers’ sense of proximity despite the distance.'
What are the development priorities for the Non-Residents service?
Ioana LET-PIVARU: With a 44% increase in the number of clients over the last four years, our results have exceeded our initial targets. To support this growth, we have put in place a number of priority projects. In terms of client experience, for example, we are working to enhance and optimise the digital pathways to better handle requests.
At the same time, this specific client base means that we have to apply strict banking requirements, taking into account nationality, residence and transaction profile. We have to take into account the changing and sometimes restrictive nature of the international regulatory and geopolitical context. The Non-Residents service should continue to grow, but in controlled conditions.
What are the profiles of the teams working in the Non-Residents service?
Ioana LET-PIVARU: It’s a multicultural team, with nearly 340 employees and more than 30 languages spoken. Our advisers are well versed in international regulatory nuances and provide tailored advice in line with the requirements of international clients.
They are particularly active in the Retail and Private Banking markets. What they have in common is their openness to the world, which enables them to adapt to the variety of our clients.
BNP Paribas, partner of the Cercle Magellan
Since October 2023, BNP Paribas’ Non-Residents service has been an official partner of the Cercle Magellan, a leading international human resources network founded 25 years ago.
With nearly 1,500 members, a high profile and a solid network, this partnership is a springboard to consolidate our position as leader in the international client segment.