As this region grows, we are able to add value in all types of sectors, from oil and gas to construction and financial institutions. That s of course due to our recognised expertise, but also in part to the Bank s commitment to having an on-the-ground presence across the region for 40 years.

Jacques noted that BNP Paribas global reach also enabled the Bank to bring expertise and experience from other regions to respond to the increasingly sophisticated corporate needs in the Gulf. He said sectorial specialism was particularly valued by clients, especially in the areas of aircraft, shipping, real estate, export and energy and commodities.

For example, the Bank sought to help regional clients manage and control their working capital and liquidity on a global scale, launching a fully-fledged liquidity management advisory team in 2013, known as the Corporate Deposit Line. This was the only resource of its kind in the region helping companies optimise the availability and yield on their surplus funds.

Another recent focus for the regional Corporate Bank operation has been developing bridges between the Gulf and other key growth regions, as well as expansion in Africa, where it has already forged a strong track record with South African multinationals.

Jacques emphasises that BNP Paribas works to put all of its resources at the disposal of its regional clients, acting as a partner on a genuinely global scale: Our commitment to our clients is to serve them on a truly global basis and for that reason our on-the-ground presence in the region is very important to the Group.

The Corporate Bank also serves the region s Multinational and Large Regional Corporate clients.

Multinational Corporate Client Relationships

As the Middle East and Africa sits at a geographical crossroad, many global companies have established a presence in the region. Within the Corporate Bank one of BNP Paribas competitive advantages in emerging and frontier markets is its Multinational Corporate Clients (MNC) capabilities. BNP Paribas is able to offer support to this group of clients as they expand their global operations in the Middle East, Africa, Asia, the Americas and Europe.

The steady expansion of BNP Paribas MNC operations is a clear demonstration of the Bank s long-term commitment to the region, and its promise to put changing client requirements at the heart of its operational strategy. In 2009 the team s early days of on-the-ground operations in the region it only had a desk in Dubai. However, given the consistently strong interest of MNCs in the Middle East and Africa region, it took only a few years to expand. Since late 2011, BNP Paribas has run an MNC team across

88 T H E H I S T O R Y O F B N P PA R I B A S I N T H E G U L F S TAT E S