BNP Paribas Bank granted license to open Israeli branch

Bank of Israel Governor Professor Stanley Fischer granted last week the French BNP Paribas Bank a license to open a branch in Israel
 
BNP Paribas Bank, the second largest bank in France, has a diverse global operation in the areas of banking and capital market. The bank operates branches in 85 countries across the world and employs about 100,000 workers of whom 67,000 are based in Europe.
 
In a published statement issued after the license was granted Bank of Israel Governor Stanley Fischer noted that 20 foreign banks currently operate in Israel, among them Deutsche Bank, UBS, and UBP. BNP Paribas will be the third bank to open a local branch, after Citigroup and HSBC.
 
BNP Paribas ended 2005 with net profit of €5.85 billion, an increase of 25% compared to 2004.