Banif Financial Group

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Banif – SGPS, S.A.
TypeSociedade Anónima
Euronext: BNF
IndustryFinancial services
Founded1988
FounderHorácio Roque
HeadquartersFunchal, Portugal
Key people
Jorge Tomé (CEO), Luís Amado (Chairman)
ProductsRetail and investment banking, insurance, asset management, private equity, factoring
Revenue€552.5 million (2010)[1]
€58.1 million (2010)[1]
€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]
Websitewww.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.

Subsidiaries[]

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)

Stock exchange floats[]

Portuguese[]

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

North American[]

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

References[]

  1. ^ Jump up to: a b c d e f "Annual Report 2010". Banco Português de Investimento. Retrieved 24 July 2011.
  2. ^ Santander Buys Portugal's Banif for $163 Million Amid Resolution, bloomberg.com, retrieved 22 December 2015
  3. ^ "Banif bank founder Horácio Roque dies". The Portugal News. 2010-05-22. Archived from the original on 2011-07-17. Retrieved 2010-05-30.

External links[]

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