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

de Belgique, adds its own chapter, telling of the development of financial services in the Grand Duchy. BNL, founded in Rome in 1913, has always been a key partner to the Italian economy, and its renowned expertise in financing the Italian film industry goes back to 1935. Bank of the West took root in the American West in 1874 and First Hawaiian Bank began offering its services in 1856. TEB, a pioneer in private banking in Turkey, is the descendant of a regional bank established in 1927. BGZ, the latest bank to join the Group, started out in 1909 financing agribusiness in Poland.

Faced with many changes in the global economic environment, the Group has demon- strated how integrating differing histories and cultures into a single entity can be a tre- mendous advantage in helping to address, in a creative way, the challenges of financing the economy and meeting customer needs in the 21st century.

Observing the history of the BNP Paribas Group, we can identify a number of character- istics and values which have been forged, passed on and acquired, sometimes under dif- ficult circumstances, over time and through the expansion of the Group: a long international, multi-cultural tradition, a consistent policy of working closely with industry and business on the one hand, striving to meet their needs; while at the same time maintaining a strong local service for individual customers, high-level expertise and rigorous risk analysis, a culture of innovation, creativity and commercial vitality, and last but not least, an ability to integrate different cultures and histories

Roger Nougaret, HEAD OF GROUP HERITAGE & HISTORICAL ARCHIVES,

BNP PARIBAS