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BNP Paribas Group acquires Bank BGZ in Poland from Rabobank Group

Warsaw/Utrecht/Paris, 5th December 2013 : BNP Paribas Group and Rabobank Group announce that they have reached an agreement for the transfer to BNP Paribas of the 98.5% stake held by Rabobank in Bank Gospodarki Żywnościowej (Bank BGŻ ) by valuing Bank BGŻ at PLN 4.2 billion (approximately EUR 1 billion).

The completion of the transaction is subject to the execution of the final documentation and to the necessary regulatory approvals.

Berry Marttin, member of the executive board Rabobank: “We're pleased that a strong and renowned bank, BNP Paribas, will be able to reinforce Bank BGŻ established position as a universal commercial bank. It was very important for Rabobank to find a respectable partner, who can further develop Bank BGŻ's ambitions. We want to thank the management and employees of Bank BGŻ for the contribution they made to Rabobank.”

Jean-Laurent Bonnafé, CEO of BNP Paribas Group stated: "We warmly welcome all Bank BGŻ staff and clients into our Group. They will help to enhance the excellent work already being done by our teams at BNP Paribas Polska, who have been instrumental in the success of our subsidiary to date. The acquisition of Bank BGŻ constitutes a major step towards attaining a critical size in Poland. The transaction will establish the BNP Paribas Group as a reference player in Poland's banking sector.”

Józef Wancer, CEO of Bank BGŻ said: “I am glad that BNP Paribas and Rabobank were able to agree so quickly. While the parties will be working on obtaining regulatory approvals the bank will be looking forward to capitalising upon large capabilities and opportunities as a part of a stable and leading banking group in Europe.”

Stefaan Decraene, Head of BNP Paribas International Retail Banking and a Member of the BNP Paribas Executive Committee underlined: "This transaction, bringing together two complementary entities, will strengthen the capacity of BNP Paribas to provide its Polish clients with a full range of services. We are convinced that the combination of Bank BGŻ expertise, notably in the agri & food business and in e-banking, with the existing operations of BNP Paribas Bank Polska will create a unique player among Polish banks with significant growth prospects.”

This transaction is expected to have a minor impact (around -15 basis points) on BNP Paribas Group's Basel III Common Equity Tier 1 ratio and to immediately have an accretive effect on its net income per share (2013 pro-forma).

About BNP Paribas
BNP Paribas ( has a presence in nearly 80 countries with 190,000 employees, including 145,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.

About Rabobank Group
Rabobank Group is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, private banking, wholesale banking, leasing and real estate services. Rabobank's service provision focuses on treating customers fairly. Rabobank is market leader in the Netherlands and focuses internationally on strengthening its leading position as a food and agri bank. Rabobank is one of the world's most creditworthy and sound banks. Measured according to Tier 1 capital, the Rabobank Group is one of the world's largest financial institutions. All rating agencies continue to give Rabobank high ratings
Rabobank Group is comprised in the Netherlands of independent local Rabobanks and the umbrella
organisation, which is made up of Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland) and its subsidiaries and associates. Rabobank Group has approximately 59,500 FTEs, who serves about 10 million customers in 42 countries worldwide.

About Bank BGŻ
Bank BGŻ is a universal commercial bank, one of the leading banks in Poland for years. It offers services to retail and institutional clients, including a sizeable group of businesses in the food and agricultural sector. It specializes in financing agriculture, the food economy and regional infrastructure. The strategy of Bank BGZ calls for further growth of effectiveness, strengthening its leading position in the food and agricultural sector and enriching its product offering. Network consists of nearly 400 branches. Bank is strongly committed to the development of small communities, by supporting entities operating on the local market and offering long-term cooperation. More information is available at: