Банкеръ Weekly

Briefs

BNP PARIBAS - A STRONG COMMITTMENT TO BULGARIA

In the context of reorganising the joint ventures between BNP PARIBAS and Dresdner Bank in Central Europe, BNP PARIBAS has increased its shareholding in BNP-Dresdner Bank (Bulgaria) AD from 40% to 80%. As per court registration the name of this leading Bulgarian bank will be changed to BNP PARIBAS (Bulgaria) AD and four new Supervisory Board members have been elected - Gerard Lohier, Didier Mahout, Matthieu Lacaze, Gilles Frank, all of them holding senior executive positions in BNP PARIBAS Group's different fields of activities: Corporate Investment Banking, Fixed Income and Energy/Commodities. The fifth member of the Supervisory Board remains unchanged - Mrs. Noreen Doyle, Vice President of EBRD and representing the 20% shareholding of EBRD in BNP PARIBAS (Bulgaria) AD.
Through this investment BNP PARIBAS Group documents its strong committment to the Bulgarian market. With 77,000 employees worldwide and a net income of over EUR4BN the new majority shareholder is No.1 bank in France and No.2 banking group in the EURO zone. According to the General Manager of BNP PARIBAS in Bulgaria the BNP PARIBAS Group will bring to Bulgaria more expertise in corporate and investment banking, private banking and asset management as well as in specialised and structured financial services.
There will be continuity in the high standards of banking operations, achieved during the first six years of the bank's existence, but also in the management principles, which have made this former joint-venture one of the prime financial institutions in Bulgaria.
By the beginning of next year BNP PARIBAS (Bulgaria) AD will move to its new premises into the historical, currently reconstructed, high standing building on Batemberg Square. This will allow the bank to serve their Bulgarian, other European and international clients more efficiently with the full range of quality services, but beyond this to expand into other areas in which BNP PARIBAS has global competence and experience, in particular in the fields of project finance, trade, energy/commodity and capital markets.

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