25.07.2013 Views

Italy: Developing our Second Home Market - BNP Paribas

Italy: Developing our Second Home Market - BNP Paribas

Italy: Developing our Second Home Market - BNP Paribas

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

<strong>BNP</strong> <strong>Paribas</strong><br />

Creating Value from BNL<br />

Synergies target (2009, pre-tax) revised upwards to €480mn<br />

Cost: €270mn<br />

Revenues: €210mn<br />

A value-adding transaction<br />

Reasonable price paid for BNL, given the synergies and the<br />

subsequent transactions in the Italian market<br />

EPS impact accretive as of 2008, even post restructuring costs<br />

A new impulse for all <strong>our</strong> businesses<br />

BNL banca commerciale<br />

Asset Management and Services<br />

International Retail Banking and Financial Services<br />

Corporate and Investment Banking<br />

French Retail Banking<br />

178

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!