2019 Integrated Report

BNP Paribas mobilises to tackle COVID-19

BNP Paribas mobilises to tackle COVID-19

In light of the Covid-19 health crisis, the BNP Paribas Group has mobilised to help customers, support the global economy and contribute to assisting those in need. This is first of all a particularly difficult and human ordeal that we are experiencing, and our first thoughts go out to all those whose loved ones have been directly affected by the epidemic. And as bankers we have a special responsibility to ensure continuity of financial services while helping not only professional and business customers to overcome the crisis but also individual clients who have had to adapt to sudden, unexpected difficulties. Banking is an essential function during the current crisis and it is our duty to ensure business continuity.

To that end, all our employees are fully mobilised in every country where we operate.  Some continue to go to the workplace to guarantee continuity of customer support, whether in branches, customer-service centres, trading floors or IT centres. And to protect our teams and customers even more, we have put in place everywhere precautionary health and hygiene measures. We would like to express our sincere thanks to all our employees for their commitment and their extraordinary discipline.

We have strengthened customer-service teams operating remotely, and branch opening times have been adjusted for our retail customers. It is, of course, also thanks to the commitment of our IT teams that we have been able to guarantee continuity of service and offer customers the digital solutions which we encourage them to use as a priority. Furthermore, our individual customers can benefit from personalised solutions to give them the flexibility they need at this time of great uncertainty, whether deferring loan repayments, obtaining credit or managing savings and payments.

To assist and support companies, especially SMEs and professional clients affected by the crisis, we are also taking all necessary measures, such as deferring repayments, facilitating cash management and providing faster financing.

BNP Paribas, through its businesses, Foundation, and Rescue & Recover Fund,  has been committed since the beginning of the crisis to supporting hospitals, medical research, and organisations helping the most vulnerable in the community as well as disadvantaged young people facing great difficulty because of the crisis. This action to help the community has been the focus of our emergency aid plan, put in place in mid April and which represents a commitment of €55 million. This plan has helped hospitals and vulnerable communities in some 30 countries. It has also been bolstered by the volunteer work of many employees around the world.

We are experiencing a moment of truth in our relationship with clients and the world around us. We are meeting the challenges, collectively and individually, because our bank is sound, not only thanks to its financial strength but also to its values and its great ability to adapt to circumstances. We must remain mobilised to help clients and those most in need as we start on the long and challenging road to economic recovery while at the same time drawing lessons from this unprecedented crisis.

Jean Lemierre

Chairman of the Board of Directors of BNP Paribas

Jean-Laurent Bonnafé

Director and Chief Executive Officer of BNP Paribas