Banca Nazionale del Lavoro
|Founded||1913(as Istituto Nazionale di Credito per la Cooperazione)|
|Founder||Government of Italy|
|Headquarters||Via Vittorio Veneto 119, Rome, Italy|
|Luigi Abete (Chairman)|
Andrea Munari (CEO)
Number of employees
Founded in 1913 as Istituto Nazionale di Credito per la Cooperazione, it was nationalized in 1929. It was re-privatized and listed on the Milan Stock Exchange in 1998, before being acquired by French banking group BNP Paribas in 2006.
The bank was involved in a major political scandal (dubbed Iraqgate by the media) when it was revealed in 1989 that the Atlanta, Georgia branch of the bank was making unauthorized loans of more than US$4.5 billion to Iraq. Many of the loans that the branch made were guaranteed by the United States Department of Agriculture's Commodity Credit Corporation program. The loans were originally intended to finance agricultural exports to Iraq, but were diverted by Iraq to buy weapons. The branch manager, Christopher Drogoul, indicated that the bank's headquarters office was aware of these loans, but senior bank official denied this. Drogoul pleaded guilty to three felony charges and served 33 months in federal prison.
At the year end of 2004 the major shareholders with more than 2% were 
- BBVA 14.75190%
- Assicurazioni Generali 8.71980%
- Diego Della Valle (Dorint Holding S.A.) 4.99436%
- Stefano Ricucci Trust (Magiste International S.A.) 4.98985%
- Francesco Gaetano Caltagirone 4.96904%
- Danilo Coppola (PACOP SpA) 4.92611%
- Banca Monte dei Paschi di Siena 4.41788%
- Giuseppe Statuto (Michele Amari Srl) 4.09248%
- Banca Popolare di Vicenza 3.63682%
- Vito Bonsignore (Gefip Holding SpA) 3.07572%
After a short period of Unipol minority ownership as well as the exposed bancopoli scandal, BNP Paribas signed an agreement with 13 shareholders of BNL, representing 48% shares of BNL on 6 February 2006. BNP Paribas also made offer to buy all the remain shares from the public and delisted the company from Borsa Italiana. MPS sold the shares to Deutsche Bank instead.
- "Archived copy". Archived from the original on 2015-04-25. Retrieved 2014-11-12.CS1 maint: archived copy as title (link)
- "Lone Wolf Or a Pack of Lies?". TIME Magazine. 26 October 1992. Retrieved 8 May 2012.
- 2004 bilancio (in Italian)
- 2005 Annual report BNP Paribas
- "Investor relations" (PDF). www.mps.it. Retrieved 13 April 2018.