its proven risk monitoring procedures, stable governance, with the positions of Chairman and Chief Executive Officer having been separated in 2003, and the commitment and dedication of its staff. Faced with many changes in the global economic environment, the group has demonstrated how integrating differing histories and cultures into a single entity can be a tremendous advantage in helping to address, in a creative way, the challenges of financing the economy and of meeting customer needs in the twenty-first century.

The history of the BNP Paribas Group brings out a number of characteristics and values, which have been forged, sometimes under difficult circumstances, through the expansion of the group: a long international, multicultural tradition; a consistent policy of working closely with industries and businesses and striving to meet their needs while maintaining a strong local service for retail customers; high-level expertise and rigorous risk analysis; a culture of innovation, creativity and commercial vitality; an ability to integrate different cultures and histories.

Roger Nougaret HEAD OF GROUP HERITAGE & HISTORICAL ARCHIVES

BNP PARIBAS