With a long standing presence in the region, BNP Paribas strengthens its proximity with local clients by creating dedicated private banking teams in each of its branches in the Middle East: Barhain, Abu Dhabi, Dubai, Kuwait, Saudi Arabia, Qatar, and Lebanon. BNP Paribas Private Banking therefore increases its coverage in the region, by opening new branches in Kuwait and in Riyadh.
BNP Paribas Private Banking develops a dedicated offer for the Middle East clients, and proposes them a direct access to local equities and local funds. The advisory desks established in Bahrain and in Lebanon give access to a highly specialised analysis of the local market. The bank has also developed an Islamic range of products either internally made or selected through an open architecture approach.
This new set-up fully dedicated to private banking activities also provides the opportunity to invest in the main European financial centres such as Geneva, Luxembourg, London and Paris. The Middle East clients have access to the full private banking products and services range, and can benefit from the private banking expertise, in wealth management or estate planning. The “Solution Centre”, based in Geneva, offers flexible approach and tailor-maid solutions for the Ultra High Networth Individuals.
In 2006, BNP Paribas Private Banking will continue to strengthen its teams in the region, confirming the key importance of the Middle East region for BNP Paribas.
BNP Paribas Private Banking has targeted to double its asset under management from USD 5 to 10 bn within 3 years.BNP Paribas in the Gulf
BNP Paribas has been operating in the Gulf for over 32 years offering the expertise of all core businesses on the ground. The opening of Riyadh branch is a part of the bank's ambitious development strategy to expand its regional network (Bahrain, Abu Dhabi, Dubai, Doha, Kuwait, and Riyadh) and better serve its clients in the Middle East. With its regional management based in Bahrain since 2001, BNP Paribas in the Gulf region accounts for approximately 400 employees, working for three core business lines of the Group:
BNP Paribas in Lebanon
- International Retail Banking and Financial Services
- Corporate and Investment Banking
- Asset Management and Services
A full subsidiary of BNP Paribas, BNPI Lebanon was established in 1944 and was the first entity of the group to be implemented in the Middle East.
A benchmark institution, it represents today a modern and dynamic international bank. With a network of 5 branches and a staff of 216 employees, BNPI is renowned for its reliability and diversity in service offerings.
Launched in 1997, the Private Banking Center is dedicated to the transactions of High Networth Clients, offering them a dealing room operating on all financial international markets, in stocks, currencies or structured products.BNP Paribas Private Bank
BNP Paribas Private Bank, the private banking arm of BNP Paribas, ranks among the top three European players and manages more than 115 bn euros world-wide. It is N°1 in France. BNP Paribas Group
BNP Paribas (www.bnpparibas.com
) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. BNP Paribas is the first bank in the Euro zone in terms of net income (2004). The group has one of the largest international banking networks, a presence in over 85 countries and employs more than 105 000 employees, including approximately 80,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.
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