BNP Paribas Cash Management and Danske Bank have signed a cash management partnership agreement which offers a comprehensive range of cash management services to both banks’ corporate clients. This new partnership strengthens BNP Paribas’ and Danske Bank’s international networks and cash management services. It gives BNP Paribas corporate clients access to Danske Bank’s network for the entire Scandinavian region. For Danske Bank clients, their cash management needs will be met in France and in the BNP Paribas international network offering a full range of cash management services. In total, a network of almost 3,000 branches will be at the disposal of both banks’ clients.
This partnership encompasses the following services – account management, domestic and cross-border means of payment, electronic banking and the provision of a treasury centralisation system, Zero Balancing Account (ZBA). In 2004, the agreement will be consolidated by an ACCIS (Automated Common Concentration International Service) co-operation agreement. ACCIS enables clients to centralise all account balances held within both banks’ networks to a single account. This partnership complements those already established between BNP Paribas and other leading network banks in Europe such as Dresdner Bank, BBVA (Banco Bilbao Vizcaya Argentaria), BNL (Banca Nazionale del Lavoro), RBS (Royal Bank of Scotland) and Wachovia in the U.S.
About Danske Bank
Danske Bank is the largest bank in Denmark and a leading player in the Nordic financial markets. In Denmark, Norway, Finland and Sweden, the Group serves almost three million retail customers and a significant portion of the corporate, public and institutional sectors. It also has a large number of international corporate clients, particularly in northern European markets. Almost 850,000 customers use the Bank’s online services.
About BNP Paribas Cash Management
BNP Paribas is a European leader in banking and financial services, with leading positions in Asia and a growing presence in the United States. It is the number one bank in terms of net income and market capitalisation in the euro zone. The group has one of the largest international banking networks throughout 85 countries and has over 85,000 employees worldwide.
BNP Paribas Cash Management (http://cashmanagement.bnpparibas.com) brings together 200 specialists in Paris and 300 cash management experts throughout the bank’s French and international network. BNP Paribas provides a full range of cash management services throughout its international network. In addition, the group has formed bilateral partnerships with other large banking groups. This opens up a network of over 12,000 branches to BNP Paribas’ corporate clients and ensures the bank’s position as a leading player in international cash management.
Tel.: +33 1 40 14 65 16
Press Contact Danske Bank:
Head of Global Cash Management
Tel. +45 33 44 04 79