2012 Registration document and annual financial report - BNP Paribas

A RESPONSIBLE BANK: INFORMATION ON BNP PARIBAS’ ECONOMIC,SOCIAL, CIVIC AND ENVIRONMENTAL RESPONSIBILITYEconomic responsibility: financing the economy in an ethical manner7BUSINESS ETHICSBeing strongly committed to the long-term financing of the economy inorder to support growth and create jobs, BNP Paribas ensures that itsactions respect business ethics.The protection of retail customers’ interests is a priority. There has been ahost of initiatives to meet their requests for information and transparencyand to improve their understanding of banking products and services.In the marketing phase, the relationship is managed responsibly andmechanisms for listening to and monitoring customers are reinforced.Moreover, as a leading financial player, BNP Paribas has a direct influenceon the economy. Controlling the possible social and environmentalimpacts of its financing and investments is therefore a matter of constantconcern for the Group. Voluntary codes, policies and measures have beenestablished to manage its activities in certain sensitive sectors.Finally, BNP Paribas has a highly successful anti-corruption mechanismand establishes its offices, not on tax considerations, but in order to bestserve its customers around the world.In 2012, the measures already initiated were consolidated, extendedor improved.IMPROVE PRODUCTS AND SERVICESTRANSPARENCY AND STRENGTHENCUSTOMER INTERESTS PROTECTIONCustomer satisfaction: the absolute priorityThe Group’s determination to improve customer satisfaction and protectcustomer interests has led it to reinforce its dialogue and monitoringsystems and to implement strict commercial rules.In France■ In October 2012, Raphaèle Leroy was appointed Head of Relationswith consumers and the associations that represent them. Ongoingimprovement of customer service is at the heart of this new role,created by Marie-Claire Capobianco, Head of French Retail Banking anda member of the BNP Paribas’ Executive Committee, to whom RaphaèleLeroy reports. Ms Capobianco commented: “ Listening, understanding,sharing our customers’ expectations with consumer associations andmaintaining a concerted approach to the improvement of servicequality over the long term: these are the objectives that RaphaèleLeroy will help to achieve. With her 20 experience in the field, sheknows how to listen to customers and integrate their expectations soas to improve their satisfaction” .■ Remuneration of in-branch advisors has been modified so that it is thesame irrespective of which product they recommend within a “ familyof needs” . For example, within the “ long-term savings family” , theBNP Paribas advisor will receive the same commission for a homeownership savings scheme as for a life insurance policy. It is thereforein the advisor’s interest to recommend the most suitable product,according to the risks or term required. In addition, a signifi cantpart of the commission is not paid until the customer starts to usethe product, i.e. several months after it is taken out. In this way,BNP Paribas ensures that the product supplied does indeed meet itscustomer’s need.■ Before launching the “ New Generation Revolving Loan” offering, whichwill gradually replace the existing revolving loan offering, Cetelemcommissioned Vigeo, Europe’s leading extra-financial auditors, tocheck the responsible and transparent nature of its new product andits marketing approach. In the product design stage, Vigeo delivereda provisional certification of the product’s responsible nature:transparent information, consultancy during the marketing and loangrantingphases, verification of customer solvency, respect of customerinterests throughout the term of the contract, allowance for the socialimpact of consumer credit. The second phase of the audit, scheduledfor March 2013, will consist in auditing the marketing of the productby customer advisors within four customer relations centres thereafter,Vigeo will be in a position to provide a final certification.7Cetelem’s new revolving loan offering:■■An offering that meets customers’ expectations for a flexible,transparent and responsive product that helps them managetheir cash flow.Going beyond the Lagarde law: the New Generation revolvingLoan will enable customers to choose from among six repaymentoptions (with different terms and associated rates); they thusdecide on the repayment period and have transparency over■pricing and costs; they have full control over their loan and caneasily change their repayment arrangements online or by phone;they can also receive a text alert if the monthly payment exceedsa set limit.A website, jegeremesfinsdemois.com, has been designed to helpconsumers understand how to manage their budget and find thenecessary resources.2012 Registration document and annual financial report - BNP PARIBAS 383