Following the announcement of their strategic partnership on 4 October 2007, BNP Paribas and Sahara Bank congregated Sahara Bank Top 80 managers on 24 January 2008 to effectively kick off their partnership.
A new organisation has been put in place to foster synergies between the two banking groups.
This new organisation will aim at accelerating business development through the creation of three business lines: Institutional Banking, Corporate Banking and Retail Banking. These business lines will work hand in hand with the Head of Network support & Banking operations.
Additionally, Sahara Bank functions which will more specifically benefit from BNP Paribas expertise will be reinforced with the creation of specialised support functions: Credit Risk, Bank Transformation, and other support functions.
IT studies have already been started to ultimately install BNP Paribas international retail banking IT application, already used in 30 countries and managing over 2 million customers.
Both teams will work together during the next 2 months to define an ambitious action plan.
Over twenty project teams have been formed to detail potential synergies coming from this partnership. These projects involve over 50 senior managers from Sahara Bank and BNP Paribas Group, and will lead to an ambitious development and transformation plan allowing Sahara Bank to become a leading international Libyan bank.