<b>France</b>
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BANKING

<b>France</b>

Headline: France
Source: Euromoney
Date: July 2001

Best bank
BNP Paribas

Best debt house
BNP Paribas

Best equity house
Société Générale

Best M&A house
Lazard Frères & Cie

BNP Paribas continues to press ahead with making a success of the merger that came about in extraordinary circumstances in 1999, after the three-way battle with Société Générale. The combination of the larger, but slower, wholesale bank, BNP, and the smaller more international investment bank, Paribas, has created the leading corporate bank in France. This comes with some strong specialist franchises, such as Cetelem, the consumer finance business and a retail business in France that commands high volumes.

       
Michel Pébereau

BNP Paribas’s investment banking division is stronger in the debt markets than in equities or mergers and acquisitions, and for the moment, while activity tails off in equity and M&A, it is making itself very useful to French corporates. In the past 12 months, BNP Paribas has rebuilt an international debt capital markets business that suffered mass defections following the prolonged takeover battle that robbed Paribas of its moment of glory art the birth of the euro.

















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