ORR Innovation Awards: Bank of the Year
As well as very successfully navigating its way through the crisis, avoiding any major operational risk losses, BNP Paribas has incorporated two new subsidiaries into its risk management framework
Rolling out an advanced measurement approach (AMA) programme requires considerable commitment. Rolling out an AMA programme in an unfamiliar context and culture takes even more – but this is what BNP Paribas has managed to do over the course of 2011 with its Fortis and BNL acquisitions.
The bank acquired Italian bank BNL in 2006 and Benelux bank Fortis in 2009. BNL was not an AMA-approved bank, so there was quite a journey ahead for BNP Paribas at this stage. “At the beginning we tried to roll
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