RepoRt on - BNP Paribas

protecting the most
vulnerable clients
engagements campaign: financing
the real economy in response
to the recession
this campaign launched by french
retail banking has two main objectives.
it aims to highlight the day-to-day activities
and commitments made by french
retail banking staff with respect to existing
and prospective customers, and to
promote bnP Paribas’ position during the
recession. the commitments made by
bnP Paribas cover a wide area, including
housing, savings, microcredit and recruitment.
the initiative enables the branch
network to show customers the tangible
effects of its day-to-day efforts.
mortgages
Housing and mortgages are a priority
for bnP Paribas. we have introduced
measures to make life easier for firsttime
buyers. in 2009, the total amount of
mortgages outstanding at bnP Paribas
increased by 5% to eur 56.7 billion.
to achieve that growth, bnP Paribas
made regular, large-scale cuts to its
interest rates starting in october 2008.
the average interest rate on a 15-year
mortgage fell from 5.20% to 3.70% in
february 2010.
in may and june, bnP Paribas launched
a comprehensive mortgage offering
through its french branch network. this
consists of solutions suited to all customers
regarding home insurance and protection,
renovation work, moving house and
settling in. new mortgage production
rose by 85% in the fourth quarter of 2009
in the branch network, and this resulted in
a 4% increase in 2009 as a whole.
young customers
for many years, bnP Paribas has increased
its commitment to young people,
helping apprentices, students and
other active young people to fulfil their
plans. study finance increased by 9%
in 2009 and more than 1,000 apprentices
signed up for dedicated services.
bnP Paribas can also provide guarantees
enabling young tenants to rent a home.
small businesses and corporates
in 2009, 96,000 new small businesses and
entrepreneurs came to bnP Paribas,
and 3,200 sole traders opened a business
current account. contrary to
widely expressed concerns, credit was
not restricted for smes, since loans outstanding
to these businesses increased
by 2.5%. in august, bnP Paribas tripled its
budget for strengthening the equity and
quasi-equity of smes from eur 50 million
to eur 150 million over twelve months.
bnP Paribas also plays an active role in
the mediation system.
helping people who are struggling
because of the recession
bnP Paribas takes into account its customers’
situation in light of tough economic
conditions. we offer solutions
such as restructuring loans, by reducing
monthly mortgage payments or extending
bridging loans. bnP Paribas offers a
new insurance product that covers all
loan repayments if the policyholder loses
his/her job. we also pay a eur 200 bonus
to all borrowers who have received
compensation under their redundancy
insurance policy.
62 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility
solidarity with
storm victims
to show its solidarity with
the victims of windstorm
klaus, French retail banking
set up a special offer entitled
“Faire face aux premiers
besoins” (dealing with initial
needs). this gave storm
victims preferential terms
on loans and mortgages.
bnp paribas offered a loan of
up to eur 5,000 at a fixed rate
of 2.30% excluding insurance,
for a term of between four
and thirty-six months. there
were no arrangement fees,
and one loan could be taken
out per family. the only
documentation needed
to access these preferential
terms was a loss statement
from an insurance company.
bnp paribas also enabled
families that had taken out
a mortgage since 1996
to defer between three and
twelve monthly payments.
deferral could only take place
after twenty-four months of
repayments, and had to last
for at least three months.