2007 REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS5Notes to the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >8.c BUSINESS COMBINATIONS8.c.1 Business combinations in the year ended 31 December 20071Acquiredsubsidiaries Segment CountryAcquiredpercentageIn millions of eurosAcquisitionpriceGoodwillNet cashinflowSahara BankLSC IR FS Libya 19% 146 106 (146)JetFinanceInternational IR FS Bulgaria 100% 172 172 (172)BanquePrivée AnjouRBSInternationalSecuritiesServicesLimitedAMS andFrench RetailBanking France 100% 183 68 (78)AMSUnitedKingdom 100% 174 124 (174)Exelbank AMS Spain 100% 65 39 (65)(1)Recognised at fair value.(2)Recognised at historical cost.Balance sheet key figure at the acquisition date (1)AssetsLiabilitiesLoans tocustomersand loansdue fromcreditinstitutionsandamountsdue fromCustomersbanks 3,255 (2) accounts 2,525 (2)centraldemandLoans tocustomers 73Loans duefrom creditinstitutions 124andloanstocustomers 273Loans duefrom creditinstitutions 2,580Loans duefrom creditinstitutions 413Bondissues 79Amountsdue tocreditinstitutions 38andcustomersdemandaccounts 277Customersdemandaccounts 2,811Customersdemandaccounts 391234567Sahara Bank LSCIn September 2007, BNP Paribas SA acquired 19% of the capital ofSahara Bank, a full-service bank with 1,500 employees and a marketshare of 17% in loans and 22% in deposits in Libya.This subsidiary has been consolidated since the fourth quarter of 2007.Sahara Bank’s contribution to BNP Paribas’ net income was not materialin 2007.The main shareholder of Sahara Bank LSC, the Social and EconomicDevelopment Fund, transferred operational control of the bank toBNP Paribas at the date BNP Paribas acquired its 19% interest. Under theshareholders’ agreement between the Social and Economic DevelopmentFund and BNP Paribas, the Group may appoint the majority of themembers of the Board of Directors, thereby granting it control overthe management of Sahara Bank. BNP Paribas also has a call optionexercisable after three to five years on 32% of Sahara Bank’s capital. Ifexercised, BNP Paribas would own a majority stake of 51%.Sahara Bank LSC is accounted for by the equity method in the Group’s2007 consolidated financial statements and will be fully consolidatedin 2008 upon completion of the action plan that has been implementedto allow the bank to produce financial data in line with Group financialreporting standards.JetFinance InternationalIn November 2007, Cetelem SA acquired all of the shares of JetFinanceInternational, the leading supplier of consumer credit, with a networkof 3,600 outlets and a portfolio of 500,000 customers.This subsidiary has been consolidated since the acquisition date. Thecontribution of JetFinance International to the BNP Paribas Group’s netincome was not material in 2007.JetFinance International is accounted for by the equity method inthe Group’s 2007 consolidated financial statements and will be fullyconsolidated in 2008 upon completion of the action plan that has beenimplemented to allow the bank to produce financial data in line withGroup financial reporting standards.8910112007 Registration document - BNP PARIBAS 207