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New Business Organisation

BNP PARIBAS BNP PARIBAS-BNL Committed to Delivering the Synergies Total 2009 CIB Synergies -23 33 96 110 in €mn -24 Negative Revenue Synergies Gross Revenue Marginal Costs Cost Synergies Total Synergies Synergies 90 projects aimed at delivering €96mn synergies Corporate & Investment Banking in Italy 166
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