BNP Paribas has announced that its International Retail Banking and Financial Services core business becomes BNP Paribas International Retail Services and reinforces the integration of its businesses.
BNP Paribas said that as a growth engine for the group and a spearhead for its international retail development, International Retail Banking and Financial Services (IRFS) has begun a new chapter by adopting a new name, BNP Paribas International Retail Services, which expresses fresh strategic momentum and a more integrated organization.
The BNP Paribas International Retail Services core business is now organized around three business lines focused on delivering retail services: branch banking in the US and emerging markets, personal finance and equipment solutions.
With this new organization, the International Retail Services (IRS) core business has entered a new phase in the deployment of the integrated BNP Paribas model across all countries, with closer coordination between its branch banking networks and retail financial services focused on four objectives: expand the client franchise, systematically pursue cross-selling, deploy new sales models and strengthen operational efficiency.
Pierre Mariani, member of the executive committee and head of the IRS core business, said: By combining the strengths of our three business lines, we aim to achieve our new objective: more than 70 million customers by 2010, including nearly six million new customers in our retail banking networks.