Banif Financial Group

Banif – SGPS, S.A.
Type	Sociedade Anónima
Traded as	Euronext: BNF
Industry	Financial services
Founded	1988
Founder	Horácio Roque
Headquarters	Funchal, Portugal
Key people	Jorge Tomé (CEO), Luís Amado (Chairman)
Products	Retail and investment banking, insurance, asset management, private equity, factoring
Revenue	€552.5 million (2010)[1]
Operating income	€58.1 million (2010)[1]
Net income	€33.4 million (2010)[1]
Total assets	€15.71 billion (end 2010)[1]
Total equity	€1.279 billion (end 2010)[1]
Number of employees	5,400 (end 2010)[1]
Website	www.grupobanif.pt

Banif Financial Group (Portuguese: Banif - Grupo Financeiro) was a state-owned Portuguese international financial services group associated with the Banco Internacional do Funchal. In December 2015 Banco Santander Totta, a subsidiary of Santander Group agreed to buy lending operations of Portugal’s Banif-Banco Internacional do Funchal SA for 150 million euros.[2] The company had a presence in Europe, South America, North America, Africa and Asia.

History

Banif was founded and incorporated by Horácio Roque[3] on 15 January 1988 and took over all of the assets and liabilities of the defunct Caixa Económica do Funchal. In 1995, it opened offices in Caracas, Venezuela and South Africa; in 1996 in São Paulo, Brazil; and in 2008 in San Ġiljan, Malta. Due to the Portuguese sovereign debt and banking crisis, Banif was one among a number of Portuguese banks which were nationalized in order to be rescued by the government.

Banif in Belo Horizonte.

Banif consisted of the following subsidiaries, most of which have either been incorporated or purchased:

SGM – Sociedade Gestora de Fundos de Pensões Mundial, S.A. (1989)
Ascor Dealer – Sociedade Financeira de Corretagem, S.A. (1989)
Mundileasing – Sociedade de Locação Financeira, S.A. (1990)
Mundicre – Sociedade Financeira para Aquisições a Crédito, S.A. (1991)
Banifundos – Sociedade Gestora de Fundos de Investimento Mobiliário, S.A. (1991)
Invesfeiras – Investimentos Imobiliários, S.A. (1991)
Banif – Investimentos – S.G.P.S., S.A. (1992)
Banifólio – Sociedade Gestora de Patrimónios, S.A. (1992)
Banif – Banco Internacional do Funchal (Cayman), Ltd. (1993)
Açoreana Seguros (1996)
Banco Comercial dos Açores (1996)
BanifServ Agrupamento Complementar de Empresas de Serviços, Sistemas e Tecnologias de Informação (1997)
Banif – Banco de Investimento, S.A. (2000)
Banif Financial Services, Inc. (2001)
Banif Mortgage Company (2002)

In March 1992, Banif first appeared on the Lisbon and Porto stock exchanges.

In 2002, Banif Securities acquired the Brazilian brokerage firm Indusval, giving them a place on the floor of the New York Stock Exchange.

"Annual Report 2010". Banco Português de Investimento. Retrieved 24 July 2011.
Santander Buys Portugal's Banif for $163 Million Amid Resolution, bloomberg.com, retrieved 22 December 2015
"Banif bank founder Horácio Roque dies". The Portugal News. 2010-05-22. Archived from the original on 2011-07-17. Retrieved 2010-05-30.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.