New Business Organisation

BNP PARIBAS Synergies Reviewed Upwards Total synergies 2009 (impact on gross operating income) in Єmn 480 +20% 400 210 150 Net Revenue Synergies 250 270 Cost Synergies More ambitious targets on the basis of the bottom-up analysis BNL Grupp BNP PARIBAS Strategy in Italy 23 23

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