Banca Nazionale del Lavoro: Difference between revisions

{{refimprovemore citations needed|date=October 2012}}

|logo = BNP Paribas.png

|logo_size = 280px50px

| image = Sede BNL Roma.jpg

| image_caption = Headquarters of BNL in [[Rome]]

|type = {{bullet list|subsidiary| [[Società per Azioni]]}}

|location = [[Via Veneto|Via Vittorio Veneto 119]], [[Rome]], [[Italy]]

|key_people = LuigiClaudia AbeteCattani <small>(ChairmanChairwoman)</small><br />AndreaElena MunariGoitini <small>(CEO)</small>

|industry = [[Banking]]<br/>[[Financial services]]

| parent = [[BNP Paribas]]

|homepage = {{URL|https://www.bnl.it|BNL.it}}

'''Banca Nazionale del Lavoro S.p.A.''' ('''BNL''') is an Italian bank headquartered in Rome. It is Italy's sixth largest bank<ref>{{Cite web |url=http://www.bnlpositivity.it/en/azienda/bnp-paribas.html |title=BNL POSitivity – BNL - BNP Paribas |access-date=2014-11-12 |archive-url=https://web.archive.org/web/20150425003117/http://www.bnlpositivity.it/en/azienda/bnp-paribas.html |archive-date=2015-04-25 |url-status=dead }}</ref> and has been a subsidiary of [[BNP Paribas]] since 2006. Integration process was concluded in 2008, BNL with its group oversees the commercial banking activity in Italy.<ref>{{Cite web |title=Dati Societari |url=https://bnl.it/it/Footer/Dati-Societari |access-date=2023-06-08 |website=bnl.it}}</ref>

Founded in 1913 as '''Istituto Nazionale di Credito per la Cooperazione''', it was nationalized in 1929. It was re-privatized and listed on the [[Borsa Italiana|Milan Stock Exchange]] in 1998, before being acquired by French banking group [[BNP Paribas]] in 2006.

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&nbsp;billion to [[Ba'athist Iraq|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.<ref>{{cite news|title=Lone Wolf Or a Pack of Lies?|url=http://www.time.com/time/magazine/article/0,9171,976859-2,00.html|archive-url=https://web.archive.org/web/20121105123431/http://www.time.com/time/magazine/article/0,9171,976859-2,00.html|url-status=dead|archive-date=November 5, 2012|newspaper=TIME[[Time (magazine)|Time]] Magazine|date=26 October 1992|accessdateaccess-date=8 May 2012}}</ref>

At the year end of 2004 the major shareholders with more than 2% were <ref>[http://www.bnl.it/SupportingFiles/Bilanci2004_annuale_spa.pdf 2004 bilancio] {{itin iconlang|it}}</ref>

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]].<ref>[https://invest.bnpparibas.com/sites/default/files/documents/4363.pdf 2005 Annual report] BNP Paribas</ref> MPS sold the shares to [[Deutsche Bank]] instead.<ref>{{cite web|url=https://www.mps.it/investors/investor-relations/bilanci-relazioni/BilanciOK/2006/Bilancio_consolidato.pdf|title=Investor relations|author=|date=|website=www.mps.it|accessdateaccess-date=13 April 2018}}</ref>

* {{Official website|http://www.bnl.it}} {{itin iconlang|it}}

[[Category:1913Italian establishmentscompanies established in Italy1913]]