BNP Paribas

BNP Paribas staff given guide to answering thorny questions on fossil fuel funding


French bank BNP Paribas is increasingly under fire from climate activists over its financing of oil and gas companies. In face of the high-profile campaigns, it has issued an advice manual for its staff on how to respond to criticism of its activities at the “family meal” table, such as explaining to a “cousin worried about climate-warming” that the bank in fact supports ending mass fossil fuel extraction. Mediapart has obtained a copy of the guide, which adopts a light-hearted culinary theme, beginning with a chapter entitled ‘appetizer’. But, as Mickaël Correia reports, its questionable claims are so brazen that some might lose their appetite. 

France's BNP bank humbled by takeover probe

France — Link

A French magistrate has launched a probe into suspected insider trading at BNP Paribas targeting current and former bosses.

The Belgium lawsuit threat to BNP Paribas executives after record US fine

International — Analysis

Last month BNP Paribas, France’s largest bank, was fined 8.8 billion dollars after reaching a settlement with the US justice system in which it pleaded guilty to violating US economic sanctions against several countries, including Iran and Syria and Sudan. The guilty plea is crucial for the bank’s shareholders for it could allow them to begin legal proceedings against those responsible for incurring the fine, a record in such prosecutions in the US. As Mediapart economic affairs writer Philippe Riès details in this analysis of the potential case against BNP Paribas senior management, all eyes are now on the bank’s principal shareholder – the Belgian state.   

France hits out at dollar dominance in international transactions

International — Link

French finance minister Michel Sapin calls for 'rebalancing' of the currencies used for global payments after US fined BNP Parisbas bank.

After loud complaints from French, silence as BNP penalty is announced

International — Link

Initial reaction is muted in Paris as the $8.9 billion and other US penalties against France's largest bank are slightly less tough than forecast.

France seeks Germany’s support on BNP Paribas case

France — Link

President Hollande talks with Angela Merkel amid fears that 'disproportionate' action against its biggest bank could pose risks to banking system.

France’s Hollande to discuss BNP fine with Obama

International — Link

French president says he will raise issue with US president who is flying in for talks in Paris ahead of Friday's D-Day commemorations.

D-Day warmth belies tensions in US-France ties

International — Link

Row over sale of warships to Russia and US fine for French bank have cooled relations ahead of presidential meeting on Normandy beach.

BNP Paribas '$10bn' US fine unreasonable, says France

International — Link

Foreign minister Laurent Fabius said proposed fine for alleged sanctions busting by French bank was an 'unfair and unilateral decision'.

Hitler parody leaves French bank BNP red-faced

France — Link

Managers were shown a motivational video featuring a parody in which Adolf Hitler is portrayed as the boss of rival Deutsche Bank.

Hollande unveils softened French bank reform

France — Link

Ministers hail it as model for the rest of Europe as critics say it falls short of president's campaign pledge to get tough with financial sector.

BNP Paribas faces being placed under investigation in Madoff scam probe

International — Investigation

France's biggest listed bank, BNP Paribas, and largest in Europe, is set to be placed under formal investigation – one step short of charges being brought - in connection with suspected fraudulent handling of clients' investments in funds that channelled money to US fraudster Bernard Madoff, judicial sources have told Mediapart. A ruling by the Paris appeal court's investigatory chamber found that "Bernard Madoff's own responsibility does not rule out the possibility of fraudulent behaviour by intermediaries such as the BNP." The court cited documents from the US liquidator of the Madoff group, concluding that “it now seems that the bank received millions of dollars in exchange for services that were never provided and while it was in possession of information […] which should have prompted it to investigate BLMIS [Bernard L. Madoff Investment Securities]". The ruling has relaunched an investigation that now threatens the bank with major legal consequences. Laurent Mauduit reports.