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The banking industry in France has, as of 11 October 2008, an average leverage ratio (assets/net worth) of 28 to 1, and its short-term liabilities are equal to 60% of the French GDP or 128% of its national debt. [1] France operates a deposits guarantee fund, known as the Fonds de Garantie des Depôts.
ING Group is one of the biggest banks in the world, and consistently ranks among the top 30 largest banks globally. With a history dating back to 1737, Van Lanschot Kempen is the oldest independent bank in the Netherlands, [48] the oldest independent bank in the Benelux [49] [50] and one of the oldest independent banks in the world. [51]
According to the bank's records, in 1815 the capital of the Paris banking house James Mayer de Rothschild founded amounted to £55,000 (equivalent to £4.8 million in 2023); by 1852 the figure was £3,541,700 (equivalent to £523.4 million in 2023), and in 1878, just ten years after his death, £16,914,000 (equivalent to £2.2 billion in 2023). [2]
This department, based in Brussels and in Paris, handles relations with EU institutions and the various bodies representing the banking and financial services industries in Europe. It monitors international issues and relations with global banking associations, and deals with issues that specifically concern foreign banks operating in France.
The Fall of France greatly affected the French Rothschilds as their bank was seized by the Nazi occupiers. [2] [3] Despite having the bank restored to them at the end of the war, the family bank Rothschild Freres would be nationalized in 1981 by the socialist government of then newly elected French President François Mitterrand. [4]
These mainly included the Banque Rothschild (bank), the SGIM (property company), the SIACI (insurance), the Francarep (oil company) and the SGDBR (wineries), now Domaines Barons de Rothschild (DBR). [25] By 1980, the Paris business employed about 2,000 people and had an annual turnover of 26 billion francs ($5 billion in the currency rates of ...
In September 2014, BNP completed the purchase of BGZ Bank for a final fee stated in the media to be $1.3 billion. [32] [33] [34] In December 2021, BNP Paribas announced to exit US retail banking business by selling its Bank of the West to the Bank of Montreal for $16.3bn. [35] BNP Paribas has around $80 billion under management in Asia by 2024.