BNP Paribas has been named the World's Best Bank for Corporates in Euromoney Awards for Excellence 2017.
BNP Paribas was named the World's Best Bank for Corporates, and Best Digital Bank in Western Europe. The bank also won Best Bank in France, Luxembourg and Kosovo, and also scooped the prize for Best Investment Bank in Belgium, taking a total of six awards on the evening.
"While many national champions retrench to their home markets, BNP Paribas is one of the few firms actively broadening its reach into new markets and new clients. Its profile as one of the few truly global corporate banks, alongside its commitment to digital solutions – including co-development with its corporate clients – is proving more suited than ever to the environment in which it operates."Clive Horwood, editor of Euromoney Magazine
As part of its 2020 growth plan, BNP Paribas announced its ambition to increase market share in corporate banking, accelerate its digital transformation and consolidate its position as a leading European bank with a global reach.
|Euromoney editor - Clive Hoorwood||Euromoney awards Ceremony 2017|
Last February, Group Chief Executive Officer Jean-Laurent Bonnafe told the Financial Times that the group wanted to "transform its business" by investing EUR3bn in digital technology over the next three years. The bank will capitalise on a broad range of digital initiatives already launched across all business lines, all aimed at improving the customer journey and realising efficiencies by putting digital at the heart of its strategy.
Last year, the bank continued to strengthen its market-leading positions in European corporate banking. According to the Greenwich Associates' annual industry benchmarking survey, BNP Paribas emerged as the top bank for corporate banking, cash management and trade finance services to large European corporates with market penetrations of 61%, 40% and 36% respectively.
"The last 12 months have seen us accelerate the transformation of our business, the aim being to meet more needs, of more clients, more effectively. Euromoney's acknowledgement of our progress is encouraging and a function of three factors: the support of the entire BNP Paribas Group; the commitment of our teams; and the trust our clients continue to show in us. This award – alongside the other five we have won – is recognition of their contribution, and my sincere thanks go to all."Yann Gerardin, Head of Corporate and Institutional Banking
For almost 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months, its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world. The awards were established in 1992 and were the first of their kind in the global banking industry.
This year Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.