This is why we have made public commitments

Do not talk to BNP Paribas of crisis communication... The term even angering the group. "We're a communication in a very severe crisis which has shaken the banking world," said Antoine Sire, the Director of the communication. The purpose of the debate The full page, issued by BNP Paribas Thursday, January 8 in daily press national and regional. A "one-shot", according to the jargon of the trade, designed in-house and with a budget of EUR 1 million.

The objective of the operation is clear. It is to reassure customers, shareholders and the internal of BNP Paribas in communicating openly on the recent difficulties through its bank financing and investment activities. Then, very quickly, to reassure the good health of the group as on its ability to continue to provide credit: "BNP Paribas remains largely beneficial to the year 2008 (...)". Retail banking represents more than 80 of our activity in 2008 (...). "At end of November, our outstanding credit in France are growing by 8 from last year," reads one, among others, in the long letter, signed by Michel Pebereau, President, and Baudouin Prot, Deputy Director. Beautiful work, refined and argued. Even if at the top of the page, the signature of the Group "BNP Paribas, the Bank for a changing world" takes unintentionally ironic speeds.

Yet hard to deny it, the financial world made a shocking reversal between the summer and the fall of 2008. In July and August, the press articles touting the strength of BNP Paribas the crisis of the "sub-prime", the interest to invest in the title grow and multiply. Better, October 5, 2008, the Bank led by Baudouin Prot Announces resumption of Belgian and Luxembourg Fortis and its international banking assets which is now of BNP Paribas the first Bank of the euro area by the amount of deposits. The Gotha of finance respectfully tilts before the operation.

Eight weeks later, mid-December, it is the cold shower. Already, in November, BNP Paribas had to reveal that the bankruptcy of Lehman Brothers and us credit enhancers problems cost him EUR 1.6 billion. December 14, the financial markets, alarmed, discover exposure for 350 million euros of the Group products of Bernard Madoff. Two days later, the Bank revealed the loss of 1.58 billion within two months. Course bites the nose. Analysts very eyebrows.

Cut short rumours

Discussions. Meetings. Whispers. Until Maurice Lévy, Publicis world group and which the Agency Parisian pattern is responsible for the commercial communication of Bank, slips in whisper: "and if you write to your customers...". "Immediately said, as soon as fact. Between mid-December and the day of Christmas, Michel Pebereau and Baudouin Prot write a first draft that they cosignent, supported by the Director of the François Villeroy de Galhau human network that rises in BNP Paribas as well as by Antoine Sire, the Director of the communication. Publicis and Havas, which managed the Group corporate communications, SDC the last version that will appear in the press on January 8, without having been prétestée. Antoine Sire: "it would put the Church in the village and remember that BNP Paribas is one of the banks with better financial health. And then our major concern is to face the inhibition of clients not daring to ask us to give a credit for doubting our physical ability to grant. This is why we have made public commitments.

Transparency, will cut short the rumours and demonstrate that it is... Whatever may be the official discourse of BNP Paribas, all the ingredients of a good crisis communication are. In responsible advertisers from Bank budgets, they admit to be shared. A first welcomed the operation: "the letter is intelligent, concise and avoids the language of wood.". And then, BNP Paribas has avoided the current error: communicate in turmoil. She was able to wait. "A second grade:"this communication reflects a confident bank insurance in its image capital and its fundamentals." But who speaks exactly "Finally, others are openly skeptical:" bankers have not understood the magnitude of the crisis of trust, which was there before the "subprime", and don't realize these letters not only open, even though made, first convince the microcosm but leave the public indifferent. " After the business Lehman Brothers, Madofff... people have ceased to believe those who say that everything is going well and that the worst is behind us... The speech of elites is décrédibilisé.