Paribas

In 2001, the Banque Paribas was repurchased by BNP to become BNP Paribas.

Direction

Presidents

Managing directors

  • Horace Finaly : 1919-1937
  • Jean Reyre: 1948-1966
  • Pierre Foamed: 1978-1981

History

The Bank of Paris and the Netherlands is founded in Paris on January 27th 1872, and functions primarily as Banque of businesses. It results from fusion from:
- the Bank of Credit and Deposit of the Netherlands, founded in 1863 in Amsterdam, with branches in Paris and, since 1870, Brussels, Antwerp, Geneva; it associated capitalists Parisian (E. Hentsch, A. Minard,…) with the continental establishments of the family Bischoffsheim-Goldschmidt- Bamberger, private bankers originating in Mainz, which essaiment in Europe as from the years 1820;
- the Bank of Paris, created in 1869 in Paris by bankers and capitalists like A. Delahante, E. Joubert, H. Cernuschi.

The name Paribas is invented with the beginning of the year 1960 per the artist and Belgian contractor Bobbejaan Schoepen.

The bank is nationalized in 1981 by the government of Pierre Mauroy, under François Mitterrand. It will be privatized in January 1987 by the government Chirac, by a OPV.

Paribas Luxembourg

  • Paribas Luxembourg was closely related to the continental Banque of Luxembourg, of Nadhmi Auchi, banks several dictators African kleptocrats (and, possibly, of Saddam Hussein).

Nadhmi Auchi

  • Paribas had among its principal shareholders, the richissime Intermédiaire anglo-Iraqi Nadhmi Auchi, which made fortune in the Intermédiation Ventes of weapons towards the oil Middle East and contracts.

Oil prefinancings

Historically, the Paribas bank was very implied in the financing of the Oil markets, by relations in particular with the Standard Oil. That explains certainly the choice of the bank BNP Paribas in the financing of the agreement “Pétrole against food” to reduce the Iraqi Embargo decided by UNO (see also “Affaire oil against food”).

The technique of oil Préfinancement consists of loans guaranteed on oil incomes to come. It was developed in the years 1970 by the companies of broking like RichCo of Marc Rich or Glencore. It was indicated by UNO and the the World Bank like one of the causes of impoverishment of the producing poor oil countries and like one of the keys of the phenomena of Kleptocratie.

Business of the sales of weapons to the Angola

  • During its investigations, the judge Philippe Courroye was interested in the part played by the bank Paribas (amalgamated today in the group BNP Paribas) in the Triangle debt-oil-arm put at the day in this business. Paribas however financed the activities of Pierre Falcone and Arcadi Gaydamak when the sales of weapons in Angola were under embargo of UNO.

  • a former head of this establishment was recently put in examination for “concealment of trading of favors”.

  • the president of the directory of Paribas at the time of the facts, Andre Levy-Lang, was lengthily heard twice in 1995, like witness by the police officers then by the examining magistrate.

  • the relation between Paribas, Pierre Falcone and Arcadi Gaydamak goes back to December 12th, 1994. Their company ZTS Osos obtained a credit of 30 million dollars. According to the police officers, “After having requested several banks, the solution came from the department Compensation of Paribas with the installation of important appropriations guaranteed on the future Angolan oil delivery”. Courroye judge established that between 1995 and 1997, Paribas financed with height of 573 million dollars the sales of weapons carried out by company ZTS Osos in Angola.

  • the department compensation of Paribas directed at the time by Alain Bernard. Its assistant Jean-Didier Maille developed the technical assembly. The two men are suspectés to have perceived 30 million dollars of commissions on accounts abroad. Victim of an health accident in 1997, Alain Bernard cannot be heard. Jean-Didier Nets, on the other hand, was put in examination on March 23rd, 2005 for “concealment of trading of favors”. During his hearing, Jean-Didier Maille affirmed that “the direction of Paribas was informed of the activities of Alain Bernard (...) Everyone knew that it paid commissions (...) One called these activities: special businesses. ”

  • Andre Levy-Lang, president of the directory of Paribas of 1991 to 1999, was questioned first once in 2005 by the Financial brigade in February 2005. About the 30 million dollars perceived by the former executives of the bank, he said himself “furious and scandalized to discover these figures” of which he ensured anything to know. April 5th, 2005, during a hearing by Courroye judge, he vigorously contradicted the charges of Jean-Didier Maille. For him, “the payment of commissions was contrary with the policy of the bank”. He stated not to remember “to be held with the current of this sales transaction of weapons bound for Angola”. “I knew that the bank n the other hand financed operations of oil exportation of Angola of imports bound for this country, explained André Levy-Lang. But for this precise operation, the question was not asked to me. If one had come to see me to get informed about this bearing project on purchases from weapons I will have required that one check the conformity of this operation with the French political position and international engagements (...) Taking into consideration what I know, I would thus not have given my downstream. ”

  • the Paribas bank could be continued as a moral person.

  • Reference: Falcone business: a former head of Paribas in examination - Le Figaro - June 9th, 2005

External bonds

  • BNP Paribas site
  • 1920 - 1945 Bank of Paris and the Netherlands
  • Histoire of the Bank Paribas

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