The bank for a chaging world

Reconstruction and prosperity: "Les Trente Glorieuses"

1966 Banque Nationale de Paris 


An excerpt from Dialogue,
BNP's inhouse magazine,
special 20th anniversary
issue in 1986.

Merger of BNCI and CNEP

On May 4, 1966, the French Ministry of Finance issued a statement announcing the "merger of BNCI and CNEP into a single financial institution to be known as the Banque Nationale de Paris" (BNP).

This merger took place against a backdrop of reform and consolidation in the French banking industry initiated by Michel Debré, then Minister of Finance. The aim of these reforms was to "reinforce the structure of France's major banks in order to promote their activities in the area of domestic and international credit."

Curiously enough, the new bank's name borrowed parts of those of its component institutions: 'nationale' came from BNCI, and 'Paris' from the Comptoir.

Henry Bizot, the former Chairman of CNEP, was appointed Chairman of the new institution, while Pierre Ledoux, former Managing Director of BNCI, took on the Executive Management of the Banque Nationale de Paris. BNP set up its head office in the BNCI building on Boulevard des Italiens in Paris.

The merger made BNP the largest financial institution in France, the second largest in Europe, and the seventh largest bank worldwide in terms of total assets. It also gave BNP strong international positions.

Print