Banca Nazionale del Lavoro
{{Short description|Italian bank}}
{{multiple issues|
{{recentism|date=October 2012}}
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{{Expand Italian|Banca Nazionale del Lavoro|date=January 2010}}
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{{Infobox company
|name = Banca Nazionale del Lavoro S.p.A.
|logo = BNP Paribas.png
|logo_size = 50px
| caption =
| image = Sede BNL Roma.jpg
| image_caption = Headquarters of BNL in Rome
|type = {{bullet list|subsidiary| Società per Azioni}}
|traded_as =
|predecessor =
|foundation = {{start date and age|1913}} (as Istituto Nazionale di Credito per la Cooperazione)
|area_served = Italy
|key_people = Claudia Cattani (Chairwoman)
Elena Goitini (CEO)
|industry = Banking
Financial services
|products =
| parent = BNP Paribas
|revenue =
|operating_income =
|net_income =
|assets =
|equity =
|num_employees = 19,000 (2014)
|intl =
|homepage = {{URL|https://www.bnl.it}}
}}
Banca Nazionale del Lavoro S.p.A. (BNL) is an Italian bank headquartered in Rome. It is Italy's sixth largest bank,{{Cite web |url=http://www.bnlpositivity.it/en/azienda/bnp-paribas.html |title=BNL POSitivity – BNL - BNP Paribas |access-date=2014-11-12 |archive-url=https://web.archive.org/web/20150425003117/http://www.bnlpositivity.it/en/azienda/bnp-paribas.html |archive-date=2015-04-25 |url-status=dead }} and has been a subsidiary of BNP Paribas since 2006. Integration process was concluded in 2008, BNL with its group oversees the commercial banking activity in Italy.{{Cite web |title=Dati Societari |url=https://bnl.it/it/Footer/Dati-Societari |access-date=2023-06-08 |website=bnl.it}}
History
{{Expand Italian|Banca Nazionale del Lavoro|date=November 2017}}
Founded in 1913 as Istituto Nazionale di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006.
Banca Nazionale del Lavoro began Argentine operations in 1960, ultimately opening 91 branches, before selling its operation there to HSBC Bank Argentina in 2006.{{Citation needed|date=June 2018}}
In 2016 the company opened a contemporary all glass building for its headquarters: BNL BNP Paribas headquarters.{{cite web |title=BNL-BNP Paribas Headquarters / Atelier(s) Alfonso Femia |url=https://www.archdaily.com/800230/bnl-bnp-paribas-headquarters-5-plus-1aa-alfonso-femia-gianluca-peluffo |website=Arch daily |date=29 November 2016 |publisher=Arch daily |access-date=7 January 2022}}
Scandals
{{further|United States support for Iraq during the Iran–Iraq War#Banca Nazionale del Lavoro}}
The bank was involved in a major political scandal (dubbed Iraqgate by the media) when it was revealed in 1989 that the Atlanta, Georgia, branch of the bank was making unauthorized loans of more than US$4.5 billion to Iraq. Many of the loans that the branch made were guaranteed by the United States Department of Agriculture's Commodity Credit Corporation program. The loans were originally intended to finance agricultural exports to Iraq, but were diverted by Iraq to buy weapons. The branch manager, Christopher Drogoul, indicated that the bank's headquarters office was aware of these loans, but senior bank official denied this. Drogoul pleaded guilty to three felony charges and served 33 months in federal prison.{{cite news|title=Lone Wolf Or a Pack of Lies?|url=http://www.time.com/time/magazine/article/0,9171,976859-2,00.html|archive-url=https://web.archive.org/web/20121105123431/http://www.time.com/time/magazine/article/0,9171,976859-2,00.html|url-status=dead|archive-date=November 5, 2012|newspaper=Time |date=26 October 1992|access-date=8 May 2012}}
Ownership
At the year end of 2004 the major shareholders with more than 2% were:[http://www.bnl.it/SupportingFiles/Bilanci2004_annuale_spa.pdf 2004 bilancio] {{in lang|it}}
- BBVA 14.75190%
- Assicurazioni Generali 8.71980%
- Diego Della Valle (Dorint Holding S.A.) 4.99436%
- Stefano Ricucci Trust (Magiste International S.A.) 4.98985%
- Francesco Gaetano Caltagirone 4.96904%
- Danilo Coppola (PACOP SpA) 4.92611%
- Banca Monte dei Paschi di Siena 4.41788%
- Giuseppe Statuto (Michele Amari Srl) 4.09248%
- Banca Popolare di Vicenza 3.63682%
- Vito Bonsignore (Gefip Holding SpA) 3.07572%
After a short period of Unipol minority ownership as well as the exposed bancopoli scandal, BNP Paribas signed an agreement with 13 shareholders of BNL, representing 48% shares of BNL on 6 February 2006. BNP Paribas also made offer to buy all the remain shares from the public and delisted the company from Borsa Italiana.[https://invest.bnpparibas.com/sites/default/files/documents/4363.pdf 2005 Annual report] BNP Paribas MPS sold the shares to Deutsche Bank instead.{{cite web|url=https://www.mps.it/investors/investor-relations/bilanci-relazioni/BilanciOK/2006/Bilancio_consolidato.pdf|title=Investor relations|website=www.mps.it|access-date=13 April 2018}}
Gallery
See also
{{Portal|Banks}}
References
{{Reflist}}
External links
- {{Official website|http://www.bnl.it}} {{in lang|it}}
- [http://www.fas.org/spp/starwars/congress/1992/h920721g.htm Transcript of U.S. Rep. Henry Gonzalez hearing on BNL connection to purchase of dual use equipment by Saddam Hussein]
{{Members of Euro Banking Association}}
{{Banking in Italy}}
{{Authority control}}
Category:Banks established in 1913
Category:Companies based in Rome