Intesa Sanpaolo Brasil SA starts operations
Intesa Sanpaolo has announced a further step in its strategy of strengthening its international network by launching the operations of Intesa Sanpaolo Brasil SA, its subsidiary bank in São Paulo, Brazil.
The launch took place after obtaining from the authorities a licence for a commercial bank and investment bank with authorisation to operate in local currency and on the foreign exchange market. According to the Brazilian banking authority’s definition, Intesa Sanpaolo will be a “banco multiplo”, acting in all respects as an industrial partner for Italian enterprises, and the Brazilian and international companies that operate in the country.
The new operation, part of the International Network and Global Industries head office of the Corporate & Investment BankingDivision, will operate in close synergy with the international network and the Italian structures of the group and will have dedicated desks available for Italian, local and international companies, with multilingual staff.
Emphasis will be placed on key sectors of the Brazilian economy, including infrastructure, oil and gas, energy and agriculture(agribusiness).
The São Paulo office will provide an enhanced platform of products and services targeted to customer needs and focused on supporting their development and investment. In particular, businesses will be able to benefit from dedicated advisory services for their entry into the Brazilian market and tailor-made solutions for their needs in terms of management of working capital, medium/long-term financial requirements, domestic and international trade flows, and the mitigation of interest rate, currency, treasury and liquidity risks.
The range of services offered includes cash management, trade finance, transaction banking, structured export finance and factoringas well as products for the collection and management of liquidity through the offer of bank certificates of deposits.
Collaboration with Banca IMI, the investment bank of the Intesa Sanpaolo Group, also ensures the availability of innovative solutions and expertise in the areas of structured finance, project and infrastructure finance, investment banking and capital markets.
Thanks to its established presence in the country, customers may rely on a large network of relations with Italian and Brazilian institutions (Embassy and Consulate, Italian Trade Commission, Chamber of Commerce), the financial community and local businesses.