France – The withdrawal of BNP Paribas is not the result of calls for boycott

In an article on 24th November, Haaretz said “top officials believe the bank’s board of directors caved to pressure groups, contrary to its claims”. On 5th December, on the website of the CRIF, Vivien Levy-Garboua, Senior Advisor at BNP Paribas, explains the reasons for this decision. He insists that the partial withdrawal is the result of the current financial crisis and that similar measures (reduction of staff) have been implemented in other countries, notably in France, Great-Britain and the US and that other adaptations will be made in Greece and in other countries of the Middle-East. He finally says that this decision was made with much regret, that BNP Paribas was proud to be the first bank of the Eurozone to establish itself in Israel and that their clients can still count on the representation office that will remain in the country.

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