BNP Paribas Securities Services: Covid-19 solidarity newsletter

The Covid-19 crisis, and the measures put in place to limit its spread, have led to much hardship for some of the most vulnerable people in society.

At BNP Paribas, we are committed to playing our part in the recovery from Covid-19.

The BNP Paribas Group has donated over EUR 50 million to support SMEs and the healthcare sector. Donations have also been made to the Red Cross, Doctors without Borders, food banks, among other organisations. In addition, the Group has been providing digital resources to young people.

Below are some of the additional actions BNP Paribas Securities Services is taking in response to Covid-19.

Best wishes,

Florence Fontan, Head of Company Engagement & General Secretary

Securities Services supports two major Spanish insurers (Mapfre and Mutuactivos) to help society overcome the impact of Covid-19 in Spain.

BNP Paribas Securities Services is acting as depositary bank for several Covid-19 funds including:

  • the EUR 50 million fund created by Mapfre for their clients to invest in projects that facilitate and support health initiatives related to Covid-19;
  • the social fund launched by Mutuactivos to support the elderly by obtaining medical equipment to help prevent infection and by helping the elderly maintain virtual contact with relatives and friends.

“We are very proud to be part of a group that is doing so much to alleviate the severe impact that this pandemic is having on the global economy and society in general. This deal with Mapfre and Mutuactivos, with BNP Paribas Securities Services acting as depositary bank, are further examples of how we, as a local bank, can play an important role in supporting our clients, whilst at the same time extending a helping hand to help our society to fight the current crisis.”

Soledad Lecube, Head of Securities Services Spain.

BNP Paribas Securities Services solidarity initiatives

In addition to BNP Paribas Group’s EUR 50 million emergency assistance plan, BNP Paribas Securities Services is also supporting vulnerable groups through solidarity initiatives totalling EUR 220,000. These include:

Securities Services Poland: 130 employees offered 2,000 meals to healthcare staff in two hospitals in the country. The meals were bought from local restaurants in order to help support the local economy.

Securities Services Italy: donation shared between hospitals and the Red Cross.

Securities Services Luxembourg: donation to the Luxembourg Covid-19 Foundation, which finances local health actions. Hope, an association of BNP Paribas employees, also donated to a hospital to buy respirators.

BNP Paribas UK: additional donation given at Group level

Securities Services Germany: employees donated to a food bank, supported by the BNP Paribas Foundation.

Channel Islands:  donation made to the local Red Cross.

Ireland: donation to basis.point, an emergency relief fund to support vulnerable children, young people and their families struggling with social isolation and economic hardship during the Covid-19 crisis.

Netherlands: in the Netherlands, Securities Services contributed to the BNP Paribas Group donation of 1,000 laptops to the #allemaaldigitaal campaign, which aims to equip households with necessary digital resources.

“Today, more than ever the importance of digital technology in our society is growing. We have to ensure that the gap in our society will not increase. It is unacceptable that there are children nowadays who cannot do their schoolwork, simply because they do not have a laptop or tablet. We would like to support these children with our contribution.”

Geert Lippens, CEO of BNP Paribas in the Netherlands