BNP Paribas Fortis is an international bank based in Belgium and a subsidiary of French banking group BNP Paribas. The bank was created in May 2009 after BNP Paribas acquired 75% of the Belgian Fortis Bank from the Federal Participation and Investment Company. It was formerly, together with Fortis Bank Nederland, the banking arm of the financial institution

Fortis Fortis may refer to: Business * Fortis (Swiss watchmaker), a Swiss watch company * Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock * Fortis Healthcare, a chain of hospitals in ...

. After the ultimately unsuccessful ABN-AMRO takeover, the

subprime mortgage crisis The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010, contributing to the 2008 financial crisis. It led to a severe economic recession, with millions becoming unemployed and many busines ...

and subsequent

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

led to the sale of the Dutch and Luxembourg parts of the banking branch to the Dutch and Luxembourg governments. Fortis Bank itself was first partly bought by the Belgian government (for €4.7 billion), then fully purchased by the government and sold to BNP Paribas.

Activities

BNP Paribas Fortis offers the Belgian market a comprehensive range of

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

a range of client types, including individual customers, self-employed people and those in the liberal professions, small and medium-sized companies, local businesses, corporate clients and non-profit organisations. In the insurance sector, BNP Paribas Fortis works closely, as a tied agent, with Belgian insurance company AG Insurance. BNP Paribas Fortis is the number-one bank for retail customers in Belgium in terms of market share and it has a strong market position among professionals and small businesses. BNP Paribas Fortis is also the leading private bank in Belgium. It ranks number one in corporate banking, offering a full range of financial services to corporate clients, public-sector entities and local authorities. Outside Belgium the bank supports via BNP Paribas group’s international network of branches across 63 countries. The commercial organisation of the bank comprises the entities Retail Banking, Affluent & Private Banking and Corporate Banking: * Retail Banking serves individual customers, self-employed people and small businesses with a multi-disciplinary team; * Affluent & Private Banking serves individuals with more than 85,000 euros of assets, along with self-employed people and firms in the liberal professions, through dedicated relationship managers. Private Banking services are aimed at individual customers with invested assets of more than 250,000 euros. Within Private Banking, the Wealth Management department caters to customers with invested assets of more than 5 million euros. * Corporate Banking serves businesses with more complex needs through dedicated relationship managers. The Enterprises business line serves small and medium-sized businesses while Corporate Coverage handles large corporations, public-sector entities and institutional clients. The range of services offered includes flow banking products, specialised financial expertise, securities, insurance products, real estate services, trade finance,

cash management Cash management refers to a broad area of finance involving the collection, handling, and usage of cash. It involves assessing market liquidity, cash flow, and investments. In banking, cash management, or treasury management, is a marketing term ...

, factoring and

leasing A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

. In addition, BNP Paribas Fortis is also active in

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

and on the capital market. In 2022, BNP Paribas Fortis became a 100% shareholder of bpost bank after the acquisition of the 50% stake held by bpost. An exclusive seven-year commercial agreement was also signed between bpost and BNP Paribas Fortis. As part of this agreement, bpost offers BNP Paribas Fortis services and products in its network of post offices. On 22 January 2024, bpost bank was integrated into BNP Paribas Fortis and bpost bank customers joined BNP Paribas Fortis. The bpost bank brand disappeared from post offices and was replaced by the BNP Paribas Fortis brand and logo. BNP Paribas Fortis is a 25% shareholder of Batopin (Belgian ATM Optimisation Initiative), a Belgian company that was established jointly by BNP Paribas Fortis, KBC, Belfius and ING Belgium on 10 March 2020. The company manages an ATM park for the four participating banks under the neutral brand name Bancontact CASH, independent of the shareholders.

Governance

Max Jadot is Chairman of the

Board of Directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

of BNP Paribas Fortis. The CEO is Michael Anseeuw.

Subsidiaries

BNP Paribas Fortis is the majority shareholder of BGL BNP Paribas, which operates in the Luxembourg market. It is the largest provider of banking services to small and medium-sized enterprises in

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

and the number two in financial services to individuals. BGL BNP Paribas is also leader in banking insurance with a package of insurance services. In

Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...

, BNP Paribas Fortis operates through TEB (Türk Ekonomi Bankası), in which it has a stake of 48,7%. TEB has 448 offices and employs 8,700 staff. These serve 8.1 million private customers and about 500,000 business customers. BNP Paribas Fortis is 100% shareholder of leasing company Arval BNP Paribas, an important player in the long-term rental of vehicles and a specialist in mobility solutions. Arval offers its business customers (from large multinationals to small and medium-sized enterprises), its partners and their employees and also private individuals services tailored to their movements. By the end of 2023, Arval had about 8,400 employees in the 29 countries where the company is based and leased almost 1.7 million vehicles to its 300,000 customers. The quality of the services offered by BNP Paribas Fortis to its customers was awarded several times. In 2023, the bank was elected "Best bank for digital solutions in Belgium" by

Euromoney ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...

, "Bank of the Year in Belgium" by

The Banker ''The Banker'' is an English-language monthly international financial affairs publication owned by '' The Financial Times'' and edited in London, United Kingdom. The magazine was first published in January 1926 through founding editor Brendan ...

, "Best private bank in Belgium" by PWM-The Banker and "Best bank in Belgium" by Global Finance. At the Euromoney Awards for Excellence 2024 BNP Paribas Fortis was named Best Bank, Best Investment Bank and Best Bank for ESG in Belgium.

History

BNP Paribas Fortis originates in Belgian banks that were merged in the past and merged within the Fortis Group. The roots of the bank go back to 1822, when

William I of the Netherlands William I (Willem Frederik; 24 August 1772 – 12 December 1843) was King of the Netherlands and List of monarchs of Luxembourg, Grand Duke of Luxembourg from 1815 until his abdication in 1840. Born as the son of William V, Prince of Orange, ...

founded the Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt. The banks that merged into BNP Paribas Fortis today are among others: * 1822: King William I of the Netherlands establishes in Brussels the Algemeene Nederlandsche Maatschappij ter Befavour van de Volksvlijt, the forerunner of the Société Générale of Belgium (Société Générale) and Generale Bank. * 1865: creation of the General Savings and Loan Fund ( ASLK / CGER), which will merge with Generale Bank in the 1990s. * 1919: establishment of the National Society for Credit to Industry (NMKN), which is acquired by ASLK in 1995. * 1999: creation of Fortis Bank; the bank arises from the merger of Generale Bank and ASLK in Belgium, and three other banks in the Netherlands (Generale Bank, VSB Bank, Mees Pierson). * After the

, Fortis Bank's banking activities in the Netherlands are sold to the Dutch State. In Belgium, the State becomes a 99.93% shareholder of Fortis Bank. * In 2009, BNP Paribas acquired 75% of Fortis Bank in Belgium, while the Belgian State acquired 10.3% of BNP Paribas' shares. * In 2013, the company name BNP Paribas Fortis becomes the bank's trading name. * In November of the same year, BNP Paribas took over the remaining 25% stake in BNP Paribas Fortis which was still held by the Belgian State, for 3.25 billion euros.

References

External links