2018 Registration document and annual fi nancial report - BNP PARIBAS12

1 PRESENTATION OF THE BNP PARIBAS GROUP

1

Presentation of operating divisions and business lines

In 2018, the Group continued to grow with the launch of a new non-life insurance product in the French Retail Banking network via Cardif IARD (a joint venture with Matmut). In June 2018, BNP Paribas Cardif also took a controlling interest in Natio Assurance, a French non-life insurer, by acquiring the shares held by the AXA Group with which it exercised joint control. Lastly, BNP Paribas Cardif signed an agreement with Ageas to purchase its 33% stake in Cardif Lux Vie in December 2018.

To better serve its distribution partners and insurance customers, the insurer, which has more than 8,500 employees, has adopted a structure based on domestic markets (France, Italy, Luxembourg), international markets (other countries) and central functions.

WEALTH MANAGEMENT BNP Paribas Wealth Management encompasses BNP Paribas Private Banking activities and caters for all the wealth management and fi nancial needs of a clientele of wealthy individuals, shareholder families and entrepreneurs.

BNP Paribas Wealth Management is structured to assist customers in different markets. In Europe and the United States in particular, the development of the Private Banking b usiness is backed by BNP Paribas r etail b anking networks. In the strongly growing Asia region, the private bank is supported by the Bank s historic presence in the market and by Corporate and Institutional Banking s businesses to meet the most sophisticated needs.

Due to its global approach, international network of specialists and customised solutions, it offers high value-added products and services, tailored to its customers needs and aspirations:

■ wealth planning services;

■ fi nancial services: advisory services in asset allocation, selection of investment products, discretionary portfolio management;

■ customised fi nancing;

■ expert diversifi cation advice: vineyards, artworks, real estate, and philanthropy;

■ sustainable investments: supporting its customers in their responsible investment planning and combining fi nancial performance with social and environmental impact.

Its integrated model also benefi ts from the full range of BNP Paribas resources:

■ proximity of a r etail b anking network;

■ Investment Banking, asset management, insurance, real estate know- how, etc.

To meet the specifi c needs of its entrepreneur customers, its experts create tailor-made solutions to build bridges between their private and business wealth in order to devise a wealth management strategy.

Innovation is at the heart of its offering: BNP Paribas Wealth Management continues to expand its range of digital solutions, thus offering a unique experience tailored to each individual customer s journey.

2018 was marked by two major developments:

■ in Luxembourg, the acquisition of ABN AMRO Bank (Luxembourg) will enable the Private Bank to consolidate its position in the leading European entrepreneurs segment;

■ in Germany, Wealth Management aims to expand its business activity in the HNW/UHNW segment (more than EUR 5 and EUR 25 million in outstandings, respectively) and the Mittelstand entrepreneurs segment.

As a world-renowned private bank, with EUR 361 billion in assets under management in 2018 and close to 7,000 professionals working in Europe, Asia and the United States, BNP Paribas Wealth Management was ranked in 2018:

■ Best Private Bank in Europe(1) for the seventh consecutive year, and no. 1 in France(2) (for the third consecutive year) and in Belgium(3);

■ Best Private Bank in North Asia(1) and in South-East Asia(4) and Hong Kong(5) ;

■ Best Private Bank in the Western United States(6);

■ Best Private Bank in the United Arab Emirates(4);

■ Best Private Bank for ultra high net worth individuals (UHNWI)(4) and Millennials(7 ), as well as for its digital(8 ) strategy.

BNP PARIBAS ASSET MANAGEMENT BNP Paribas Asset Management is the dedicated asset management business of the BNP Paribas Group and has over 2,400 employees. Ranked 9th largest asset manager in Europe(9 ), the Company manages EUR 399 billion in assets and has over 530 investment professionals. BNP Paribas Asset Management offers investment services for both private investors (through internal distributors BNP Paribas Private Banking and Retail Banking and external distributors), businesses, and institutional investors (insurance companies, pension funds, official institutions and consultants). It focuses on providing added value by drawing on a broad range of expertise through its active equity and fi xed income management, its private debt and real asset management business, and its multi-asset, quantitative and solutions (MAQS) division. Its aim is to generate sustainable long-term performance within a rigorous risk management framework. BNP Paribas Asset Management also helps to fi nance an inclusive economy and combat climate change in the context of its activities.

BNP Paribas Asset Management has a major presence in Europe, with a unique set-up in the emerging countries and , in particular, in Asia .

(1) Private Banker International.

(2) Euromoney.

(3) World Finance .

(4) WealthBriefi ng.

(5) Triple AAA.

(6) Global Finance.

(7) PWM.

(8 ) MyPrivateBanking Research.

(9 ) IPE Top 400 2018.