Commenting on this projected acquisition, Marie-Claire Capobianco, Director of BNP Paribas Banque Privée France, announced: “This operation would enable BNP Paribas to strengthen its number one position in the French private banking market. By combining the strengths of its retail bank in France with those of its asset management and services division, BNP Paribas has already developed a leading private bank, noted for its widespread establishment throughout the country, its quality of service and degree of innovation. The proposed acquisition of Dexia Banque Privée France would enable it to move up a gear, on its home market by further consolidating its private wealth management capacities and adding recognized experience with not-for-profit organizations to its spectrum of expertise.”
BNP Paribas Banque Privée France has a national network of approximately one hundred private banking centres, employs nearly 1,500 staff and manages 55 billion euros of assets on behalf of some 100,000 clients. With over 130 billion euros of client assets worldwide, BNP Paribas is also the largest French bank in private banking terms on a global basis.
These exclusive discussions follow on from the announcement by Dexia, on 28 June 2006, that it was studying various strategic options concerning the future of DBPF as part of the ongoing review of its portfolio of activities and its policy of focusing on certain areas. The information and consultation process on the project has just been initiated with the relevant corporate social bodies.
Dexia, a European banking group, world leader in Public & Project Finance
The Dexia Group (www.dexia.com) was born in 1996 from the alliance of two major players in local public finance in Europe: Crédit local de France and Crédit Communal de Belgique. With a market capitalisation of 23.4 billion euros at 30 September 2006, Dexia ranks among the twenty largest financial institutions in the eurozone. It currently employs some 33,000 staff and has operations in about thirty countries. Dexia enjoys one of the best credit ratings in the banking sector. Dexia's development strategy is based on the Group's two pillars: Public & Project Finance worldwide and Universal Banking in Europe.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, and is ranked among the top 15 banks in the world in terms of market capitalisation. Today, it has nearly 140,000 employees, including 110,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and is well established in all the world's major financial markets. Present throughout Europe through all its businesses, France and Italy are its two domestic retail banking markets. BNP Paribas also has a significant and growing presence in the United States and strong positions in Asia and the emerging countries.