Banken for en verden i endring The bank for a ... - BNP Paribas

2006, a benchmark year for the BNL group
BNL joined the BNP Paribas Group during the fi rst half of 2006 following an acquisition process
that was both rapid (less than three months) and highly successful (99% acceptance
level). From the month of May on, BNL made intensive integration efforts aimed at defi ning
a strategy for developing BNP Paribas’ second domestic market while continuing its usual
activities. Since year-end, efforts have been concentrated on implementing the resulting
strategic business plan.
In 2006, the bank’s usual activities were framed by clearly defi ned guidelines:
• increasing sales and marketing efforts;
• improving effi ciency;
• strengthening asset quality controls.
An integration programme spanning several years
As of May 2006, mixed BNL-BNP working groups were organised to implement the various
projects in BNP Paribas’ integration programme in Italy. Nearly 800 employees from each of
the group’s businesses were brought together to contribute to this 2-year business plan.
The results of the fi rst six months of this particularly productive collaboration were presented
to the fi nancial community on 1 December:
• defi nition of the new organisation, leading to the creation of BNP Paribas’ fi fth core business,
BNL banca commerciale (BNL bc), and the integration of the other activities into the
Group’s various core businesses;
• an increase from the initial estimates of synergies in terms of both net revenues and costs;
• confi rmation of the global restructuring costs and the amount of adjustment in the acquisition
price.
The value creation plan
BNL bc intends to implement a value creation plan based on:
• optimising the benefi ts to be derived from its large and diverse client portfolio through a
reorganisation of the network, including access to multi-channel services, branch renovation,
more effi cient segmentation, more personalised client relationship management and
the development of tools to better analyse client needs;
• increased cross-selling, boosted by high-quality BNP Paribas products and the Group’s
international service platforms. High priority areas are asset management, investment
banking solutions, liquidity management and leasing;
• controlling operating costs, particularly through better HR management, streamlining back
offi ces and IT resources, reorganising real estate and optimising purchasing policy;
• change management supported by major training efforts and the renewal of teams thanks
to a three-year retirement and pre-retirement plan negotiated with the trade unions.