In 1979 Alcredis was far from being the largest of the Dutch consumer credit companies; it had a market share of 8.7% in the Netherlands. However at this time it had 25 offices some of which it shared with the bank branches employed 100 people, issued 10,000 contracts a year and had outstanding commitments totalling 1,701 million guilders.

These companies were sold off during the 1990s.

1982: turning point and new awareness

The strategy started to change in 1982. The country was going through a difficult economic period92, and the financial results of the Dutch subsidiary were unsatisfactory. That was also the year Willem Werner left the bank. His successor was Christian Hollander, who had previously been head of the Paribas branch in Los Angeles. Paribas entrusted him with the task of overhauling the Netherlands strategy. But first and foremost this was the year when the bank first became aware of the magnitude of the problems incurred by the focus on retail banking and the attendant policy of rapid growth.

The situation at the Dutch subsidiary was described during a meeting of the Paribas International Board of Directors on 6 October 1982 as follows: The gross operating profit is over 20 million guilders, but the need to set aside substantial provisions means that the Banque de Paris et des Pays-Bas Nederland will only be able to post a rather poor net profit for the current financial year. At the same Board meeting it was likewise pointed out that the previous year was also very poor in terms of profit. The following month, Banque Paribas issued a guarantee in order to temporarily free the Dutch subsidiary from some of its commitments.

92. In December 1982, unemployment amounted to 17% of the active population and inflation stood at 6.5%.

PARIBAS GRONINGEN BRANCH

PARIBAS NIJMEGEN BRANCH

PARIBAS VENLO BRANCH

PARIBAS MAASTRICHT BRANCH - 1981

PARIBAS THE HAGUE BRANCH - 1980

103F R O M B A N Q U E D E PA R I S E T D E S PAY S - B A S T O PA R I B A S , 1 8 7 2-1 9 9 7