The Kolkata branch that marked the entry of BNP Paribas in India, moved into a new home this year.
One-and-a-half centuries ago, in the year 1860, BNP Paribas (then known as the Comptoir d’Escompte de Paris) set up its first branch in India in the back then “powerful trade metropolis” of Kolkata. It was not only the first French bank but also the first European bank to start a dialogue in India and was in many ways a pioneer at introducing modern banking to India.
However, in 1903, after more than 40 years of conducting business successfully, the Kolkata branch closed to reopen in 1948, a year after India’s Independence. With the growing business, the Kolkata branch shifted to a larger establishment in Stephen House in the year of 1953, where it stayed until 2010.
In January 2010, the Kolkata branch moved into a state-of-the-art office in Avani Signature building on the iconic Park Street. About the move, Jacques Michel, CEO & Country Manager, BNP Paribas India, said, “If anything has changed, it’s only the location. For us, our long-standing clients are always the first priority.”