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BNP Paribas plans to expand real estate business in Germany

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HB PARIS. "In 2010 we want to expand the investment management, we plan to in Germany external and internal growth," said Henri Faure, Chairman of the BNP Paribas subsidiary, the Handelsblatt. For further details, he wanted to make no further details. Faure, however, said that his business with open funds in Germany is not interested. "In addition, we lack the sales base," said the BNP-manager. Mutual funds would sell his house only in the countries in which the parent bank was represented by its own branch network, ie France, Italy and soon Belgium and Luxembourg. A contrario, this would mean that the French want to buy a German fund house, which is active primarily in the business of institutional and high net worth individuals.

BNP Paribas RE differs from international competitors such as Jones Lang Lasalle, the fact that the French covering the full range of services the real estate business. The BNP’s subsidiary, emerges not only as brokers, advisers and administrators, but also developed their own account residential and office properties. The house is in the fund business with assets under management of ten billion to the larger addresses in Europe. For comparison, the IVG is managed with a fortune of 12.5 billion euros in the special segment leader. Special Funds are open for institutional real estate funds. The resources of the BNP Paribas subsidiary, derived predominantly from the two home markets of the parent bank, France and Italy. BNP Paribas took over in 2007, the Italian bank BNL.

To diversify the fund’s broader business, BNP Paribas will now pick up RE in Germany and the UK more customer deposits. "Both are absolutely key markets in Europe," said Faure. Through the acquisition of Fortis Bank by the mother Faure is also hoping for a boost in the funds business in the markets of Belgium and Luxembourg. Among other things, to succeed, the internal growth with the support of two new closed real estate.

The year 2009 was the Board of BNP Paribas Real Estate pleased despite loss: "We are experiencing a sales decline of around 20 percent, which is an excellent result when you compare that the market for real estate purchases in the past year by 50 percent is broken. "Calculated on the basis of 2008 figures are thus a turnover of around 533 million euros. Before publication of the consolidated balance sheet, he could not give any further details, but he assured that the real estate service provider "in 2009 was profitable."