T H E H I S T O R Y O F A G L O B A L F I N A N C I A L G R O U P
appointed CEO in 2003, mark step-changes in the size of the Group. The most recent take- overs have been conducted under a new top team: Jean-Laurent Bonnafé was appointed Group CEO in 2011 and Jean Lemierre, a former President of the EBRD, became Chairman in 2014.
2001, BNP Paribas acquired the total capital of its US subsidiary Bank of the West, based in the western United States and Hawaii. 2002, Consors was absorbed into Cortal, bringing extra specialist financial expertise. 2005, Türk Ekonomi Bankasi (TEB) joined the Group. 2006, BNP Paribas took over Banca Nazionale del Lavoro (BNL), the number six Italian bank, thus opening a second domestic market in Europe. 2009, a major operation which saw the acquisition of Fortis Bank in Belgium and its subsidiary BGL in Luxembourg brought the Group two more domestic markets as well as -Fortis Bank s subsidiaries in Poland - two polish banks which later merged into Fortis Bank Polska (in 2011 rebranded and renamed to BNP Paribas Bank Polska). 2013, BNP Paribas launched Hello bank!, a 100% mobile digital bank, in France, Germany and Belgium. 2014, BNP Paribas acquired Poland-based Bank BGZ from the Dutch financial group Rabobank. The same year, as a major step in the Group s development in Germany, BNP Paribas acquired the digital broker DAB Bank AG. Meanwhile in France, the Group took sole control of LaSer, a major French consumer finance provider. 2015, on the Polish market BNP Paribas completed the legal merger of Bank BGZ and BNP Paribas Bank Polska into Bank BGZ BNP Paribas.
Meanwhile, the BNP Paribas Group has come through the crisis which has been shaking the financial system since 2007, not only unscathed but actually stronger than before. Nevertheless, BNP Paribas had to reach a settlement with the US authorities in 2014 in relation to violations of certain US laws and regulations regarding economic sanctions. As part of that settlement, BNP Paribas acknowledged responsibility by entering a guilty plea and paid a penalty of $US8.97 billion. The Group also agreed a remediation plan with the US authorities and announced a comprehensive plan to strengthen its compliance and control procedures.
A Group deeply rooted in a rich history
These years have seen the Group family tree expanding, as new entities have joined, bringing with them their own rich history. In the story of Fortis, for example, we can read the entire history of Belgian industrialisation. The BNP Paribas Group Belgian sub- sidiary started life as the Algemeene Nederlandsche Maatschappij, founded in 1822 by royal decree to promote industry even before Belgium became a country, continuing as the national bank under the name Société Générale de Belgique following independence in 1830, and later absorbing the Compagnie Générale d Epargne et de Retraite (CGER), founded in 1865. Banque Générale du Luxembourg, set up in 1919 by Société Générale
CENTRALA BNP PARIBAS FORTIS, RUE ROYALE 20, BRUKSELA
HEAD OFFICE OF BNP PARIBAS FORTIS, RUE ROYALE 20, BRUSSELS