BNP Paribas named Bank of the Year by International Financing Review
BNP Paribas named Bank of the Year by International Financing Review (IFR). According to (IFR), “the way the French bank reacted to the crisis in 2011 was admirable. Finally, here was a bank in the middle of the storm able to respond with speed, ruthlessness and wisdom.”
Throughout 2012, BNP Paribas distinguished itself by showing poise under pressure: successfully deleveraging while keeping the client franchise intact, strengthening capital, securing access to alternative sources of funding and driving strategic change, all without losing sight of our businesses' future. IFR recognized BNP Paribas as the Bank of the Year for our decisions to aggressively boost capital and liquidity, and cut risk-weighted assets at the same time as we began executing the first stages of a bold shift in our corporate and investment bank strategy.
"We are very honoured to receive this prestigious award. I would like to express my gratitude to IFR for selecting us, and to our clients who choose to work with us around the world. Their satisfaction is the result of the commitment shown by our employees," noted Jean-Laurent Bonnafe, Chief Executive Officer BNP Paribas.
BNP Paribas is currently one of the best-capitalised leading global banks, and has been consistently profitable since its creation. This will enable us to continue to develop and provide a first class service to our clients globally.
Alain Papiasse, Head of CIB, added, "This award reflects our responsiveness, commitment and our balanced and differentiated CIB model that is built on long-term relationships with customers."