Banca Nazionale del Lavoro

Banca Nazionale del Lavoro S.p.A. (BNL) is an Italian bank headquartered in Rome. It is Italy's sixth largest bank[1] and has been a subsidiary of BNP Paribas since 2006.

Banca Nazionale del Lavoro S.p.A.

Type	subsidiary Società per Azioni
Industry	Banking Financial services
Founded	1913 (1913) (as Istituto Nazionale di Credito per la Cooperazione)
Headquarters	Via Vittorio Veneto 119, Rome, Italy
Area served	Italy
Key people	Luigi Abete (Chairman) Andrea Munari (CEO)
Number of employees	19,000 (2014)
Parent	BNP Paribas
Website	BNL.it

History

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.

Scandals

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.[2]

Ownership

At the year end of 2004 the major shareholders with more than 2% were [3]

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.[4] MPS sold the shares to Deutsche Bank instead.[5]

References

"Archived copy". Archived from the original on 2015-04-25. Retrieved 2014-11-12.CS1 maint: archived copy as title (link)
"Lone Wolf Or a Pack of Lies?". TIME Magazine. 26 October 1992. Retrieved 8 May 2012.
2004 bilancio (in Italian)
2005 Annual report BNP Paribas
"Investor relations" (PDF). www.mps.it. Retrieved 13 April 2018.

External links

Selected members of the Euro Banking Association
Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg BKS Bank Erste Group Bank Oberbank Oesterreichische Nationalbank Raiffeisen Bank International Raiffeisenlandesbank Oberösterreich Raiffeisen-Landesbank Tirol UniCredit Bank Austria
Belgium	Dexia Bank KBC Bank Bank van de Post
Cyprus	Bank of Cyprus Hellenic Bank
Denmark	Amagerbanken Arbejdernes Landsbank Danske Andelskassers Bank Danske Bank DiBa Bank Djurslands Bank Jyske Bank Nordjyske Bank Nørresundby Bank Østjydsk Bank Ringkøbing Landbobank Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank Vestfyns Bank Vestjysk Bank
Finland	Aktia Bank Bank of Åland Nordea Bank Pohjola Bank S-Bank Tapiola Bank
France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas BPCE BRED Banque Populaire Crédit Agricole Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale
Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank Deutsche Bank Deutsche Bundesbank Deutsche Postbank DZ Bank Europe Arab Bank Frankfurt Hamburger Sparkasse JP Morgan Chase Bank Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss Euro Clearing Bank The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland)
Greece	Alpha Bank Eurobank Ergasias National Bank of Greece Piraeus Bank
Hungary	Budapest Bank CIB Bank Erste Bank FHB Mortgage Bank Hanwha Bank Hungarian Development Bank Hungarian National Bank K&H Bank MagNet Bank MKB Bank OTP Bank Raiffeisen Bank Sberbank Europe Group Takarékbank UniCredit
Ireland	Allied Irish Banks Bank of Ireland
Italy	Banca del Fucino Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare di Sondrio Banca Sella Banco BPM BPER Banca Cassa di Risparmio di Fermo Cassa di Risparmio di Ravenna Banca di Imola Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Nexi Raiffeisen Landesbank Südtirol UBI Banca UniCredit
Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg KBL European Private Bankers Société Générale Bank & Trust
Netherlands	ABN Amro Bank De Nederlandsche Bank ING Bank Rabobank Nederland
Portugal	Banco BPI Banco BCP Caixa Geral de Depósitos Novo Banco
Slovenia	Banka Slovenije
Spain	Abanca Banco Bilbao Vizcaya Argentaria Banco Sabadell Banco Santander Bankia Bankinter CaixaBank Ibercaja Banco Kutxabank Unicaja Banco CECABANK
Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank
United Kingdom	Bank of Tokyo-Mitsubishi UFJ Barclays Bank Citibank DNB Bank (NOR) HSBC Bank JPMorgan Chase Bank, London Branch Kookmin Bank International Lloyds Bank MashreqBank (UAE) Royal Bank of Scotland UBS Wells Fargo Bank
Non-EU	Bank of China (CHN)

Banking in Italy
Central bank	Bank of Italy European Central Bank
Public banks	Cassa Depositi e Prestiti CDP Reti Poste italiane BancoPosta Banca del Mezzogiorno – MedioCredito Centrale Istituto per il Credito Sportivo Banca Mediocredito del Friuli Venezia Giulia Investitionsbank Trentino Südtirol – Mediocredito Trentino Alto Adige Finaosta Fincalabra Finlombarda Finmolise Finpiemonte Fidi Toscana FIRA Gepafin IRFIS – FinSicilia Sviluppo Basilicata SFIRS Veneto Sviluppo FarBanca Banca Intermobiliare
Global banks (Supervised by ECB)	UniCredit Intesa Sanpaolo Banca IMI Mediocredito Italiano Banca Apulia
Nationwide and multi-regional banks (Supervised by ECB)	Banco BPM Banca Aletti Banca Popolare di Milano Banca Monte dei Paschi di Siena MPS Capital Services UBI Banca IWBank Mediobanca Compass Banca Esperia BPER Banca Banco di Sardegna Banca di Sassari C.R. Bra C.R. Saluzzo Banca Carige Banca del Monte di Lucca Credito Emiliano Banca Popolare di Sondrio
Multi-regional (total assets €30b to €8b)	Credito Valtellinese Credito Siciliano Banca Mediolanum Banca Popolare di Bari Cassa di Risparmio di Orvieto Banca Sella Holding Banca Sella Banca Patrimoni Sella Banco di Desio e della Brianza Banca Popolare di Spoleto Banca di Asti Biverbanca Südtiroler Volksbank – Banca Popolare dell'Alto Adige Südtiroler Sparkasse – Cassa di Risparmio di Bolzano
Multi-regional and regional cooperative bank (Popolari banks)	Banca Agricola Popolare di Ragusa Banca Valsabbina Banca Popolare di Puglia e Basilicata Banca Popolare di Cividale Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia Banca Popolare Pugliese Banca di Piacenza Banca di Credito Popolare Banca Popolare del Lazio Banca Popolare del Cassinate Banca Popolare Valconca Banca Popolare Etica Banca Popolare Sant'Angelo Sanfelice 1893 Banca Popolare Banca Popolare di Lajatico Banca Popolare di Fondi Banca Popolare del Frusinate
Co-operative banks (BCC) and central banks	Federcasse central banks Istituto Centrale delle Casse Rurali ed Artigiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Cassa Centrale Banca - Credito Cooperativo del Nord Est List of members of Federcasse Fondo di Garanzia dei Depositanti del Credito Cooperativo
Regional retail bank	Cassa di Risparmio di Ravenna Banco di Lucca e del Tirreno Banca di Imola Banca di Cambiano Cassa di Risparmio di Cento ChiantiBanca Cassa Padana Cassa di Risparmio di Volterra Cassa di Risparmio di Fossano Banca del Fucino Cassa di Risparmio di Fermo Banca del Piemonte Banca CR Savigliano Banco Azzoaglio
others	Banca Generali Banca IFIS Banca Finnat Banca Ubae Banca Leonardo Banca Farmafactoring FinecoBank Unione Fiduciaria Credito Fondiario Banca Passadore Banca Sistema Banca Profilo Mercury Nexi Setefi
Foreign banks	Allianz Allianz S.p.A. Barclays Banco Santander Bank of China BNP Paribas Banca Nazionale del Lavoro Crédit Agricole Crédit Agricole Italia Cariparma Carispezia FriulAdria Crédit Agricole Corporate and Investment Bank FCA Bank Credit Suisse Deutsche Bank Deutsche Bank S.p.A. Dexia Crediop HSBC ING Bank Société Générale
Ancient banks	Bank of Saint George Banco di Santo Spirito Istituto Bancario San Paolo di Torino Medici Bank Mount of piety Faenza Foggia Parma Perugia Reggio Emilia Treviso Udine Verona Vicenza
Related topics	List of banks in Italy Associazione Bancaria Italiana Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione Nazionale fra le Banche Popolari Fondo Interbancario di Tutela dei Depositi Italian National Resolution Fund

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