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Banca Nazionale del Lavoro: Difference between revisions - Wikipedia

Banca Nazionale del Lavoro: Difference between revisions

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Fix Time magazine usage - also some copy editing
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|logo_size = 50px
| caption =
| image = Banca nazionale del lavoro.JPG
| image_caption =
|type = {{bullet list|subsidiary| [[Società per Azioni]]}}
|traded_as =
|predecessor =
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|area_served = [[Italy]]
|key_people = Luigi Abete <small>(Chairman)</small><br />Andrea Munari <small>(CEO)</small>
|industry = [[Banking]]<br/>[[Financial services]]
|products =
| parent = [[BNP Paribas]]
|revenue =
|operating_income =
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|num_employees = 19,000 (2014)
|intl =
|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=Archived copy |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.
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==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&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|access-date=8 May 2012}}</ref>
 
==Ownership==