2012 Registration document and annual financial report - BNP Paribas

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32012REVIEW OF OPERATIONSOutlook3.6 OutlookGROUP OUTLOOK3In 2013, the Group will prepare a 2014-2016 business development planbased on the road maps of the various divisions with the goal of unveilinga comprehensive plan early in 2014.The first phase of the plan is the launch of Simple and Efficient, anambitious initiative to simplify the way the Group functions and improveoperating efficiency.The second phase will include specific business development plans byregion and business unit. The first unveiled plan covers the Asia Pacificregion.SIMPLE & EFFICIENT: AN AMBITIOUSPLAN TO SIMPLIFY THE WAY THE GROUPFUNCTIONS AND IMPROVE OPERATINGEFFICIENCYIn 2013, the Group will launch a 3-year EUR 1.5 billion investmentprogramme designed to simplify the way it functions and improve itsoperating efficiency.The Group is aiming to improve operating efficiency in order toachieve cost savings starting in 2013 and which are expected to reachEUR 2 billion a year as of 2015. About half of these savings will come fromRetail Banking, a third from CIB and a sixth from Investment Solutions.This will be achieved without closing down any businesses and with thededication of the entire Group.In order to maximise the benefits, General Management will head theprogramme and a specially-dedicated team will provide across-the-boardmonitoring, facilitating project management across several business unitsand functions.The programme will include 5 areas for transformation (process review,system streamlining, operating simplification, customer service and costoptimisation) and across-the-board approaches to improving operatingefficiency (digitisation of business processes, increased delegation,simplified internal reporting, etc.). Over 1,000 initiatives have alreadybeen identified in the Group.ASIA PACIFIC: A REGION FOR THE GROUPTO FOCUS ITS BUSINESS DEVELOPMENTWith a workforce of nearly 8,000 persons (1) working for CIB andInvestment Solutions, and a presence in 14 markets, the Group is one ofthe international banks that is best positioned in Asia Pacific where it hashad a long-standing presence. CIB and Investment Solutions currentlymake about 12.5% of their revenues there, or EUR 2 billion.In the fast-growing region, the Group has recognised franchises especiallyin Trade Finance (with 25 trade centres), Cash Management (number 5 inAsia), Fixed Income (number 1 for FX Derivatives and number 1 InterestDerivative Dealer), Equities and Advisory (number 2 Equity DerivativesDealer), Private Banking (number 8 with 30 billion in assets undermanagement in 2012), Insurance (7th amongst non Asian insurers), andhas a strong presence in the petroleum and gas, metals and miningproducts sectors as well as air transport. The Group also has successfulpartnerships with a number of leading domestic players.By leveraging its solid platforms, the Group’s goal is to grow CIB’s andInvestment Solutions’ revenues in Asia to over EUR 3 billion by 2016, ora compounded annualised growth rate on the order of 12%.The Group expects to grow its financed assets by the same magnitudeand, likewise, to grow the gathering of deposits in the region. Within thenext three years, the Group also expects to hire about 1,300 people inthe region to work in Investment Solutions and CIB.For corporate clients, the Group will bolster the commercial organisationgeared to multinational corporations as well as local large and mediumsizedbusinesses. Thereby, it will expand its domestic client base, serviceglobal clients in Asia Pacific and its Asian clients as they take theirbusinesses global. It will hence step up the effort with respect to TradeFinance and Cash Management and, in Fixed Income, speed up the rollout of bonds, flow products, and hedging instruments. At the same time,the Group will heighten its presence with investors rolling out Originateto Distribute, developing Asset Management and Securities Management,expanding the Private Banking client base and stepping up cross-sellingbetween CIB and Investment Solutions. Lastly, the Group will forge newpartnerships, especially in Insurance with the objective of developingbusiness in China and Indonesia.A member of the Executive Committee, already based in the region, willoversee the Group’s business and development.(1) Excluding partnerships.982012 Registration document and annual financial report - BNP PARIBAS
2012 REVIEW OF OPERATIONSOutlook3CORE BUSINESS OUTLOOKRETAIL BANKINGIn 2013, Domestic Markets will continue its strong commitment to itsclients, invest in innovation and pursue its effort to streamline operations.It will thus prepare the retail bank of the future. For individual customers,it will expand innovative online banking services, in particular for mobilephones and continue to develop new payment solutions. For corporatecustomers, it will continue to expand One Bank for Corporates inassociation with CIB whilst continuing to acquire new customers (already2,600 new accounts by year-end 2012) and bolstering the service offering,in particular in Cash Management, leveraging on its leading positionin the eurozone. With respect to VSEs & SMEs, Domestic Markets willcapitalise on the network of Small Business Centres (59 in France, 42 inItaly) and focus on developing synergies with Leasing Solutions and Arval.Private Banking will leverage its leadership position in the eurozone togrow its business in Italy and to pursue synergies with corporates andsmall businesses.In Domestic Markets as a whole, the business unit will upgrade itsnetworks based on the needs of its customers with more advisory andless transaction related services and more diversified formats.An ambitious plan was thus unveiled in Belgium in December 2012 (Bankfor the Future) designed to anticipate new customer behaviours (mobilebanking, customer relations centres, less in-branch teller business andincreased commercial meetings with clients) and to improve operatingefficiency.The retail banking networks outside the eurozone will roll out theGroup’s integrated business model whilst adapting themselves to localspecificities.Europe-Mediterranean will continue its selected business developmentwith the opening of branches in regions with fast-paced growth (suchas Morocco); adapt the set up and offering to online banking; developbusiness with institutional customers and grow cash management. Withrespect to Turkey, TEB will continue to grow its business, in particular bycontinuing to step up cross-selling with Investment Solutions and CIB.At BancWest, in a more favourable economic context, the commercialoffering will be expanded, in particular by developing Private Banking,closer cooperation with CIB and enhancing the Cash Managementoffering. Lastly, BancWest will continue to upgrade and streamline thebranch network.Personal Finance will continue to adapt to the new environment.In France, the business unit will continue to transform its business modelwhilst growing Cetelem Banque’s business (gathering of savings and saleof protection insurance products), implementing the process of assistingclients in a difficult position and leveraging its business alliance withBPCE (joint venture up and running on 1 January 2013) to share certaindevelopment costs.In Italy, Personal Finance will roll out Findomestic Banca (marketingof deposit accounts and insurance products) and continue productinnovation.Lastly, the business unit will continue to develop engines of growth:in Russia by implementing the strategic alliance with Sberbank; in theautomobile sector, through partnerships with European manufacturersand distributors; in the Group’s retail banking networks in emergingcountries, by rolling out PF Inside; and, lastly, by expanding the Internetoffering.INVESTMENT SOLUTIONSIn 2013, Investment Solutions will continue to strengthen its leadershippositions in Europe with targeted clientele, in particular Ultra High NetWorth Individuals in Private Banking and institutional clients.The business unit will continue to innovate and expand its productoffering: in Securities Services, by capitalising on changes in regulationsin the field of market infrastructure; in Asset Management, by developinghigh value added products; in all the business units, by rolling out theonline banking service offering.Investment Solutions will continue international business development infast growing countries, in particular by bolstering platforms in Asia Pacific,Latin America and the Gulf countries. Lastly, Insurance will continue tobe a powerful driver of growth within the business unit.CORPORATE AND INVESTMENT BANKING(CIB)In 2013, CIB will continue transforming the business model, whilstbolstering its operations in Asia and North America.Advisory and Capital Markets will continue to expand the productoffering whilst strengthening flow product platforms, developing marketinfrastructure access and collateral management services and continuingto grow the bond origination businesses.Corporate Banking will continue its transformation, further increasingclient deposits by expanding Cash Management whilst developing aregional approach to be closer to clients.The roll out of Originate to Distribute will be stepped up by leveraging onalready strong positions in syndication, securitisation and bond issues andby developing innovative distribution channels (debt funds).32012 Registration document and annual financial report - BNP PARIBAS 99
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2012REGISTRATION DOCUMENTAND ANNUAL
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2012 Registration documentand annua
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1GROUP PRESENTATION1.1 Group presen
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GROUP PRESENTATIONPresentation of a
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1GROUPPRESENTATIONBNP Paribas and i
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1GROUPPRESENTATION1282012 Registrat
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2CORPORATEGOVERNANCEBoard of Direct
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5RISKSAND CAPITAL ADEQUACY5.6 Count
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5RISKSAND CAPITAL ADEQUACYSovereign
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5RISKSAND CAPITAL ADEQUACYAppendix
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6INFORMATIONON THE PARENT COMPANY F
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8GENERALINFORMATIONDocuments on dis
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8GENERALINFORMATIONFounding documen
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8GENERALINFORMATIONStatutory Audito
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9STATUTORYAUDITORSStatutory Auditor
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10PERSON RESPONSIBLE FOR THE REGIST
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11TABLE OF CONCORDANCEHeadings as l
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HEAD OFFICE16, boulevard des Italie
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