BNL-BNP Paribas supports Italian firms' global expansion

BNL-BNP Paribas, the Italian banking group that forms part of BNP Paribas' global network, has signed an agreement with Societa Italiana per le Imprese All-Estero (Simest) to coordinate efforts to support Italian companies in their international expansion.
Under the agreement, Italian firms planning to move into non-EU markets can access specific tailored financing services from BNL. The bank is supported by its own Italian desk network, and the international presence of BNP Paribas.

It can offer a range of products locally such as credit lines and structured finance. BNL's Italian desks focus solely on Italian companies and their foreign branches, and they are based in France, Algeria, Tunisia, Turkey, the Persian Gulf, Russia, USA and China. During 2008, the group plans to open up in India and Libya as well.

Simest promotes companies' international growth by taking equity stakes of up to 49% in foreign companies in which Italian companies also hold a stake.
The joint agreement has highlighted Algeria, Dubai and other Gulf countries, Libya, Turkey, India and Vietnam as key countries for the two institutions to focus on.