Subsidiaries and affiliates Currency Ex<strong>change</strong> rate Share Reserves and <strong>La</strong>st publishedcapital (a) retained earnings revenues (a)before incomeappropriation (a)I - DETAILED INFORMATION ABOUT SUBSIDIARIES AND ASSOCIATED COMPANIES WHOSE BOOK VALUE EXCEEDS 1% OF <strong>BNP</strong> PARIBAS SHARE CAPITAL1. Subsidiaries (more than 50%-owned) (cont.)Cortal Consors EUR 1.00000 54,521 263,278 95,929<strong>BNP</strong> <strong>Paribas</strong> Indonesia USD 1.35840 36,883 (19,266) 6,034BancWest Corporation USD 1.35840 1,069 4,758,617 2,096,793Cetelem EUR 1.00000 340,126 1,072,447 1,479,801Antin Participation 7 EUR 1.00000 181,431 (70) 16,461Kle 65 EUR 1.00000 578,133 95,028 7,734Gestion et Location Holding EUR 1.00000 265,651 912,006 33<strong>BNP</strong> <strong>Paribas</strong> Securities Services EUR 1.00000 165,280 485,756 571,894Capstar Partners SAS EUR 1.00000 2,247 57,295 11,570<strong>BNP</strong> <strong>Paribas</strong> Brasil BRL 3.60316 190,311 305,983 800,583<strong>BNP</strong> <strong>Paribas</strong> Lease Group EUR 1.00000 285,079 103,444 271,099Francis Trees and Watts USD 1.35840 11 (1,403) 0<strong>BNP</strong> <strong>Paribas</strong> Assurance EUR 1.00000 510,059 226,996 305,316TOTAL2. Associated companies (10% to 50% owned)Banca UCB EUR 1.00000 72,240 2,072 87,945Erbé EUR 1.00000 120,430 550,040 0<strong>BNP</strong> <strong>Paribas</strong> Développement EUR 1.00000 68,000 53,978 15,983<strong>BNP</strong> <strong>Paribas</strong> Suisse SA CHF 1.54688 320,271 1,192,755 1,401,229Changjiang <strong>BNP</strong>P Peregrine Securitie * CNY 11.24280 600,000 n.a. 3,122RIVP ( Régie Immob. Ville de Paris EUR 1.00000 31,474 32,042 284Carbone Lorraine EUR 1.00000 22,400 125,400 9,700Finaxa EUR 1.00000 230,910 3,748,911 0ABN Amro Advisory Inc. ** EUR 1.00000 1,550,001 88,699 60,505Tyler Trading ** USD 1.35840 2,101,558 64,350 56,489Compagnie Financière Ottomane EUR 1.00000 8,500 135,214 5,876Crédit Logement EUR 1.00000 1,123,980 42,496 103,758Société Centrale d’Investissement EUR 1.00000 500,141 3,527,204 2,278,585Pargesa Holding SA CHF 1.54688 1,698,700 453,500 0<strong>BNP</strong> <strong>Paribas</strong> Luxembourg EUR 1.00000 100,000 669,043 674,431TOTAL* Data at 31 December 2003. ** Data at 30 September <strong>2004</strong>. (a) In thousands of currency units. (b) In thousands of euros.Subsidiaries and affiliatesBook value of sharesIncluding revaluationGross Net differenceII - GENERAL INFORMATION ABOUT OTHER SUBSIDIARIES AND ASSOCIATED COMPANIESFrench subsidiaries 588,151 308,683 1,107Foreign subsidiaries 1,404,539 1,298,374 121French associated companies 2,548,796 2,512,888 0Foreign associated companies 246,575 222,079 3,128284<strong>BNP</strong> PARIBAS - ANNUAL REPORT <strong>2004</strong>
Subsidiaries and afFiliates<strong>La</strong>st published Per cent interest Book value Including revaluation Dividends Outstanding Guaranteesnet income held by of shares difference (b) received loans and and endorsements(loss) (a) <strong>BNP</strong> <strong>Paribas</strong> SA during advances granted by given byGross (b) Net (b) the year (b) <strong>BNP</strong> <strong>Paribas</strong> SA (b) <strong>BNP</strong> <strong>Paribas</strong> SA (b)6,239 99.34% 748,844 748 8442,945 99.00% 58,651 29,562 23,760 15,908337,811 98.74% 3,956,050 3,956,050 50,529 14,723153,492 98.14% 2,385,928 2,385,928 120,538 10,504,05911,775 95.77% 173,752 173,7529,938 94.52% 640,810 640,810 47,07730,452 94.25% 875,639 875,63948,842 90.44% 1,287,631 1,287,631 2,171 6,166,159 1,260,1004,431 86.67% 50,697 50,697 3,057107,030 83.73% 91,290 91,290 7,052 165,730 66150,663 74.80% 698,163 698,163 97,406 5,416,575 176,5076,638 71.54% 70,926 70,926303,792 65.56% 450,861 450,86125,834,444 25,383,184 44,815 1,320,525 34,899,392 5,449,13711,603 49.00% 42,981 42,981 4,32226,002 47.01% 296,725 296,725 12,45513,875 45.24% 29,586 29,586 11,600112,859 43.15% 489,527 489,527 6,572 2,034,602 22,684(15,608) 33.00% 20,690 20,69030.77% 25,590 25,590 4,842(14,400) 20.97% 66,552 66,552320,000 20.90% 491,888 491,888 22,16254,617 19.35% 220,848 220,848 10,17636,698 19.03% 294,464 294,464 14,8756,993 18.61% 29,034 29,034 50149,246 16.50% 207,161 207,161 7,706 57,811760,874 15.04% 671,655 671,655 3,825160,000 14.58% 564,544 564,544 14,88483,689 13.21% 253,934 211,416 815,317 32,3303,705,180 3,662,662 10,397 91,923 2,861,519 112,825285<strong>BNP</strong> PARIBAS - ANNUAL REPORT <strong>2004</strong>
- Page 2 and 3:
contentsKey Figures 2-3Chairman’s
- Page 5 and 6:
2key Figures3Net banking incomeby c
- Page 7 and 8:
4chairman‘s and chief executive o
- Page 9 and 10:
6executive committee7COMMITTEEBNP P
- Page 11 and 12:
8trademark portfolio9BNP Paribas op
- Page 13 and 14:
The bankfor a connected10the bank f
- Page 15 and 16:
12the bank for a connected world13C
- Page 17 and 18:
14the group‘s core businesses15Fi
- Page 19 and 20:
the Netherlands. UCB has also devel
- Page 21 and 22:
ices• The division’s savings bu
- Page 23 and 24:
14chiffres clés15GASSixty Partners
- Page 25 and 26:
18CORPORATE AND INVESTMENT BANKING1
- Page 27 and 28:
20CORPORATE AND INVESTMENT BANKING2
- Page 29 and 30:
Equities andDerivatives22CORPORATE
- Page 31 and 32:
24CORPORATE AND INVESTMENT BANKING2
- Page 33 and 34:
Bnp paribas london26CORPORATE AND I
- Page 35:
28CORPORATE AND INVESTMENT BANKING2
- Page 38 and 39:
etailbankingFrench RetailBankingInt
- Page 40 and 41:
RATPChangeover Points, Hubs of Mixe
- Page 42 and 43:
IndividualclientsA fully operationa
- Page 44 and 45:
Personal loan businessoutpaces mark
- Page 46 and 47:
entrepreneursand freelanceprofessio
- Page 48 and 49:
The acquisition of Teisseire by Fru
- Page 50 and 51:
BIOVALEurope’s Largest Biotechnol
- Page 52 and 53:
internationalretail banking andf in
- Page 54 and 55:
• Outside France, new lending fur
- Page 56 and 57:
np paribaslease groupFollowing two
- Page 58 and 59:
ancwestThe sharp upturn in the Amer
- Page 60 and 61:
teb istanbulEmerging andOverseas Ma
- Page 63 and 64:
56retail banking57MANOBIExchanges o
- Page 65 and 66:
58asset management and services59
- Page 67 and 68:
6061asset management and servicesAM
- Page 69 and 70:
6263asset management and servicesco
- Page 71 and 72:
asset management et servicesPaving
- Page 73 and 74:
66asset management and services67Bn
- Page 75 and 76:
68asset management and services69bn
- Page 77 and 78:
70asset management and services71Ta
- Page 79:
72asset management and services73BN
- Page 82 and 83:
klépierre
- Page 84 and 85:
np paribascapital
- Page 87 and 88:
Patrick GeeraertHead of the Finance
- Page 89 and 90:
82sustainable development83THE GROU
- Page 91 and 92:
84sustainable development85• SAMS
- Page 93 and 94:
86sustainable development87As a res
- Page 95 and 96:
88sustainable development89BNP Pari
- Page 97 and 98:
90sustainable development91Yield an
- Page 99 and 100:
92sustainable development93Communic
- Page 101 and 102:
94sustainable development95Liaison
- Page 103 and 104:
96sustainable development97Dividend
- Page 105 and 106:
98sustainable development99Disclosu
- Page 107 and 108:
HUMAN RESOURCESDEVELOPMENT100sustai
- Page 109 and 110:
102sustainable development103(in %)
- Page 111 and 112:
104sustainable development105- the
- Page 113 and 114:
106sustainable development107Employ
- Page 115 and 116:
108sustainable development109Lastly
- Page 117 and 118:
110sustainable development111relati
- Page 119 and 120:
112sustainable development113Qualit
- Page 121 and 122:
114sustainable development115BNP Pa
- Page 123 and 124:
116sustainable development117Vendor
- Page 125 and 126:
118118119119sustainable development
- Page 127 and 128:
120sustainable development121Partne
- Page 129 and 130:
122développement durable123Chetan
- Page 131 and 132:
124sustainable development125This p
- Page 133 and 134:
126sustainable development12750 art
- Page 135 and 136:
128sustainable development129BNP Pa
- Page 137 and 138:
10101001010010100100101010101000011
- Page 139 and 140:
132board of directors133Jacques Fri
- Page 141 and 142:
134EXTRACTS FROM THE BOARD OF DIREC
- Page 143 and 144:
136report of the chairman137• The
- Page 145 and 146:
138report of the chairman139de l’
- Page 147 and 148:
140report of the chairman141• the
- Page 149 and 150:
142report of the chairman143As part
- Page 151 and 152:
144report of the chairman145for con
- Page 153 and 154:
146report of the chairman147to comb
- Page 155 and 156:
148report of the chairman149Human r
- Page 157 and 158:
150remuneration151remunerationRemun
- Page 159 and 160:
152remuneration153Remuneration of o
- Page 161:
154remuneration155Information on st
- Page 164 and 165:
Financialand legalinformation
- Page 166 and 167:
ACTIVITY2004 REVIEW OF OPERATIONSCO
- Page 168 and 169:
RESULTS OF EACH CORE BUSINESS1 - RE
- Page 170 and 171:
The Retail Banking business in Emer
- Page 172 and 173:
The core business’ operating expe
- Page 174 and 175:
Interbank and money-market items. I
- Page 176 and 177:
RECENT DEVELOPMENTS11 February 2005
- Page 178 and 179:
CHANGES IN SHARE CAPITALNumber of s
- Page 180 and 181:
REGULATORY RATIOSInternational capi
- Page 182 and 183:
on retirement bonuses should be acc
- Page 184 and 185:
Realised gains and losses on availa
- Page 186 and 187:
Credit and Counterparty Risks, comp
- Page 188 and 189:
ates (market rates and signature sp
- Page 190 and 191:
Group Tax Affairs resources include
- Page 192 and 193:
fundamentally sound companies that
- Page 194 and 195:
• GEaRThe Bank measures Value at
- Page 196 and 197:
asis for hedging decisions taking i
- Page 198 and 199:
BNP PARIBAS - ANNUAL REPORT 2004192
- Page 200 and 201:
CONSOLIDATED BALANCE SHEETASSETSIn
- Page 202 and 203:
CONSOLIDATED PROFIT AND LOSS ACCOUN
- Page 204 and 205:
APPENDICESNOTE 1ACCOUNTING POLICIES
- Page 206 and 207:
association, provided that the Grou
- Page 208 and 209:
However, when the market value of l
- Page 210 and 211:
fixed income instruments (whether f
- Page 212 and 213:
In order to reflect what appeared t
- Page 214 and 215:
countries in which they operate. In
- Page 216 and 217:
NOTE 2 - SCOPE OF CONSOLIDATIONChan
- Page 218 and 219:
Fully-consolidated companiesFinanci
- Page 220 and 221:
Financial institutions Group voting
- Page 222 and 223:
Financial institutions Group voting
- Page 224 and 225:
Other companies Group voting Group
- Page 226 and 227:
Other companies Group voting Group
- Page 228 and 229:
NOTE 3INTERBANK AND MONEY-MARKET IT
- Page 230 and 231:
NOTE 5TRANSACTIONS ON TRADING ACCOU
- Page 232 and 233:
NOTE 6INSURANCE COMPANY INVESTMENTS
- Page 234 and 235:
NOTE 7 (CONT’D)INVESTMENTS IN NON
- Page 236 and 237:
NOTE 8 (CONT’D)PROVISIONS FOR CRE
- Page 238 and 239:
NOTE 10LONG-TERM INVESTMENTSIn mill
- Page 240 and 241: NOTE 12GOODWILLIn millions of euros
- Page 242 and 243: NOTE 15CUSTOMER DEPOSITS, RETAIL CE
- Page 244 and 245: NOTE 17TECHNICAL RESERVES OF INSURA
- Page 246 and 247: NOTE 20SUBORDINATED DEBTIn millions
- Page 248 and 249: NOTE 22CONSOLIDATED SHAREHOLDERS’
- Page 250 and 251: NOTE 22 (CONT’D)CONSOLIDATED SHAR
- Page 252 and 253: NOTE 22 (CONT’D)CONSOLIDATED SHAR
- Page 254 and 255: NOTE 24FORWARD AND OPTIONS CONTRACT
- Page 256 and 257: NOTE 25BNP PARIBAS GROUP EXPOSURE T
- Page 258 and 259: NOTE 26 (CONT’D)SECURITISATIONS
- Page 260 and 261: NOTE 28MATURITY SCHEDULE OF LOANS,
- Page 262 and 263: NOTE 31NET INTEREST INCOME (EXPENSE
- Page 264 and 265: NOTE 34UNDERWRITING RESULT AND NET
- Page 266 and 267: NOTE 36STOCK OPTION PLANS1 - BNP PA
- Page 268 and 269: NOTE 37GAINS (LOSSES) ON DISPOSALS
- Page 270 and 271: NOTE 39SEGMENT INFORMATION• Incom
- Page 272 and 273: NOTE 41BNP-PARIBAS MERGER-RELATED R
- Page 274 and 275: • BNP Paribas records provisions
- Page 276 and 277: PARENT COMPANY FINANCIAL STATEMENTS
- Page 278 and 279: PROFIT AND LOSS ACCOUNT OF BNP PARI
- Page 280 and 281: debt securities. They also include
- Page 282 and 283: • Debt Securities Held to Maturit
- Page 284 and 285: Forward financial instruments are p
- Page 286 and 287: Recognition of Revenue and Expenses
- Page 288 and 289: SUBSIDIARIES AND AFFILIATESSubsidia
- Page 292 and 293: ACQUISITIONSOF EQUITY INTERESTS BY
- Page 294 and 295: SOCIAL AND ENVIRONMENTALINDICATORS
- Page 296 and 297: NRE indicator 2004 Comments Scope c
- Page 298 and 299: NRE indicator 2004 Comments Scope c
- Page 300 and 301: NRE indicator 2004 Comments Scope c
- Page 302 and 303: NRE indicator 2004 Comments Scope c
- Page 304 and 305: NRE indicator 2004 Comments Scope c
- Page 306 and 307: GENERAL INFORMATIONLEGAL INFORMATIO
- Page 308 and 309: The Axa group has also given a comm
- Page 310 and 311: STATUTORY AUDITORSNames and address
- Page 312 and 313: COMBINED ANNUAL AND EXTRAORDINARYGE
- Page 314 and 315: • Eighth resolution (Renewal of t
- Page 316 and 317: • Seventeenth resolution (Amendme
- Page 318 and 319: Capital increaseCash flowCECEICIBA
- Page 320 and 321: Investment clubIRBIRFSISIN codeLBOL
- Page 322 and 323: Prime brokeragePublic tender offerQ
- Page 324 and 325: NOTES. . . . . . . . . . . . . . .
- Page 326: www.bnpparibas.comHEAD OFFICE16, bo