BNP Paribas and Türk Ekonomi Bankasý (TEB) are pleased to announce the opening of the first three Trade Centers in Turkey: in Istanbul on 6 June 2005, in Izmir on 7 June 2005, and soon in Adana. Other Trade Centers are planned to be wide spread throughout Turkey, all joining the world-wide network of BNP Paribas Trade Centers.
The Trade Center are among the first tangible product of the BNP Paribas and TEB partnership, completed in February 2005, when BNP Paribas took a 50% share in TEB Mali Yatýrýmlar A.Þ., TEB's controlling holding company. Both partners already enjoy strong positions in Trade Finance: TEB is a leading player in Turkey, while BNP Paribas is among the Top 5 world-wide.
These new locations strengthen BNP Paribas offer in terms of services and geographical coverage, for its international customers world-wide.
On the other hand, TEB customers are going to benefit from expert level support and advisory for their needs in trade finance
, leading to a tailor-made approach for their complex trade finance deals. Advanced technologies will provide them with superior quality in their international trade operations.
Both partners will pursue their relationship on the same scheme. Taking advantage of BNP Paribas' product expertise and cross-selling know-how, TEB will capitalise on its recognised presence and deep knowledge of the market to further develop activities which will include, amongst others, retail, corporate and investment banking, as well as asset management and private banking, leading to significant growth prospects and synergies.About Trade Centers
A BNP Paribas Trade Center is a service center for corporate customers with international activity. 75 Trade Centers are now operational in 48 countries on the 5 continents (including 13 Trade Centers in France), staffed by more than 160 specialists addressing to nearly 15,000 clients world-wide. Much more than a concept, the Trade Center is a “one stop shopping point” where specialists offer the whole range of products, services and tailor made solutions related to Trade Finance, and according to the sites either sell directly or refer international Cash Management, Foreign Exchange and long and medium term Export Financing. About BNP Paribas
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, present in over than 85 countries with close to 100,000 employees, including 67,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.About TEB
TEB enjoys one of the highest ratings by the international agencies amongst the Turkish banks. TEB is a mid-sized universal banking group, reputed for the quality and liquidity of its assets and characterized by prudence and conservative management. Through its subsidiaries, TEB offers a full range of financial products to its corporate, private banking and retail clients including trade finance, leasing, factoring, consumer finance, deposit products, cash and asset management, insurance, investment banking, advisory services and brokerage. TEB's network comprises 90 branches and employs about 2,500 people.