End 2011 BNP Paribas decided to run down the mortgage lending business in the Netherlands. This decision was prompted by the upcoming banking regulations, including Basel III, which made this activity unsustainable in the longer term for BNP Paribas Personal Finance.


Since its foundation in 1998 in Amstelveen, The Economy Bank N.V. (TEB N.V.) has gained a strong reputation over the years as an expert in providing tailor-made solutions to its clientele in commodity and trade finance particularly in Turkey, the Mediterranean basin and Eastern Europe. TEB N.V. is the Dutch subsidiary of TEB A.S., a Turkish Bank in which BNP Paribas holds the majority share.

TEB N.V. also provides private banking services to individuals and corporate clients on an execution only basis. Over the last few years the Bank has also been offering savings products to Dutch retail customers under the local deposit guarantee scheme. With its customer-friendly services and attractive product conditions, TEB N.V. has managed to create brand awareness in the market in a short period of time.

TEB N.V. has a powerful ambition to become the regional trade and commodities expert within the BNP Paribas Group by continuously pursuing synergies with the other entities of the Group.

BNP Paribas Cardif

BNP Paribas Cardif Netherlands, the Dutch life, property and casualty insurance subsidiary of BNP Paribas, opened its office in 1995.

BNP Paribas Cardif offers a range of life insurance and personal protection products, focusing mainly on the mortgage protection segment, insuring illness, unemployment and death risks. Its highly positive development has been achieved by forging a large number of partnerships with real estate brokers. BNP Paribas Cardif is the leader in this market segment, with a 50% market share.

BNP Paribas Cardif Managing Director Cees de Jong explains the reasons for this success: In our organisational philosophy, the insured (consumers) and business partners are seen as the core of all action. We consider the interest of all parties, continually aiming to achieve a healthy balance. We feel that every consumer must be able to obtain insurance, and that the consumer s need should be central, both in terms of content and assistance. This means that we see it as our responsibility to offer understandable products that fulfil a need. We also expect our business partners to focus on the specific needs of each potential or existing insured person that they represent. Our business partners stay in

Turkey and The Netherlands: a 400-year-old business relationship

In 1612, the Dutch ambassador Cornelis Haga presented his letters of credence on behalf of the Dutch Republic to the Ottoman Sultan Ahmet I, marking the start of a relationship focused on trade. Bilateral economic cooperation remains important to this day.

The Netherlands and Turkey share a culture of diversity and active entrepreneurship alongside an ambition geared to innovation, creativity and sustainability. These elements enabled a deeper intergovernmental engagement, economic integration and business partnership to develop during those years.

The Netherlands is one of the largest foreign investors in Turkey, which offers economic opportunities for, in particular, small and medium-sized companies, including those owned by successful Turkish-Dutch businesspeople.

The Netherlands is home to 380,000 people of Turkish origin, and there are 18,000 companies run by Turkish-Dutch citizens that provide employment to 50,000 people and account for amount 2% of Dutch GDP. The Netherlands is also the largest foreign investor in Turkey, with a total of $20 billion, while the trade between these two countries tripled in the last decade to 7 billion last year. There are now 1,900 Dutch companies operating in Turkey and this number is growing rapidly.




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