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BNP Paribas named 'Global Bank of the Year' by Banker magazine

BNP Paribas, one of the largest and strongest financial services groups in the world, was recently named 'Global Bank of the Year 2008' by The Banker magazine, at the ninth annual Banker Awards in London.



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BNP Paribas named 'Global Bank of the Year' by Banker magazine.
BNP Paribas named 'Global Bank of the Year' by Banker magazine.


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BNP Paribas was also named 'Best Bank in Western Europe' and 'Best Bank in France'. UkrSibbank, BNP Paribas' subsidiary in Ukraine, was named 'Best Bank in Ukraine'.

The Banker magazine's commercial banking awards acknowledge the institutions that have managed the challenges of the financial crisis with skill, courage and expertise. The magazine noted that in a turbulent year, BNP Paribas' model 'demonstrated a remarkable level of stability and resilience' and has been quick 'to spot and grab the right opportunities'. The bank has 'excelled in key growth areas'. For example the bank also won the Banker's Award for Innovation in Islamic Finance.

Baudouin Prot, BNP Paribas' CEO, said:

'BNP Paribas' robust business model has a track record of delivering strong and diversified earning streams from all its business lines. This is thanks to its excellent client franchises and the quality of its teams. While obviously not immune to the financial crisis, BNP Paribas' stringent risk policy culture and good cost control during these difficult times have positioned it well to continue growing organically over the cycle. The acquisition of Fortis will present BNP Paribas with a unique opportunity to expand its pan-European footprint and become the largest bank in the eurozone in terms of deposits.'


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Notes:
BNP Paribas has been operating in the Gulf for over 35 years with a presence in five Gulf countries (Bahrain, United Arab Emirates, Qatar, Kuwait and Saudi Arabia). The teams also cover Oman and Yemen. BNP Paribas in the region accounts for approximately 670 employees. The Regional Management is based in Bahrain which is the regional hub for BNP Paribas in the Gulf.

About BNP Paribas
BNP Paribas is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor's. The group is present in 85 countries, with more than 171,000 employees, including 131.000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.

For further information, kindly contact:
BIZ COM
P.O. Box 48889, Dubai, UAE
Tel: +971 4 332-0888
Fax: +971 4 332-0999
Rana Mesbah Posted by Rana Mesbah
Tuesday, December 02 - 2008 at 16:50 UAE local time (GMT+4)

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