When it comes to banking and total asset value, BNP Paribas is not only the fourth largest in the world; it is also the biggest bank in the Eurozone. This giant global financial institution was created back in 2000 via the merger of Banque Nationale de Paris and Paribas banks. A global leader in retail banking, BNP Paribas, boasts a customer base in Europe and the USA of some 30 million.
The company has a long history that dates back to its establishment in 1822 as the Société Générale de Belgique. One of the banks, Comptoir National d’Escompte de Paris, would go on to become one of the 2 banks that eventually merged to create BNP Paribas in 2000. It operated in China and India and currently trades in a total of 80 countries. This sector is accredited with generating 70% of the company’s income stream. The financial giant offers everything from retail banking and equities to hedge fund services, investment banking, and corporate services.
One notable anomaly of the group is that it managed to escape the recent 2008 global recession virtually unscathed. This was achieved by a prudent move to shut down their funds in the sub-prime mortgage sector in advance of the market’s subsequent fall. In fact, their only casualty in that sector came via their BancWest holdings in the U.S.
Trading BNP Paribas
Before trading BNP stocks, it’s important to be aware of the background basics of this company:
- The post Brexit market could bode well for BNP Paribas, moving it into a dominant position in the evolving financial sector. The outlook is good thanks to the company’s philosophy of attracting new clients via cutting-edge technology and improved services. Such innovative tools as virtual reality access and facilities for transactions of real estate tell their own story in terms of the company’s ability to forge ahead.
- A recent and highly successful restructure further shielded the business from the effects of the global recession and the company was named bank of the year in 2012.
- BNP Paribas is accredited with an A+ debt rating which denotes a stable outlook for the future and the value of its stock.
- The UK’s potential move out of the EU is likely to cast some uncertainty over the organisation concerning its interests in the United Kingdom, but experts remain optimistic concerning the way forward.
The use of a cutting-edge trading platform when trading BNP Paribas or any other stock is an essential part of investor’s trading plan. Charting and educational resources ensure that traders are able to act based on best-informed decisions.