Banif Financial Group
 | |
| Company type | Sociedade Anónima |
|---|---|
| Euronext: BNF | |
| Industry | Financial services |
| Founded | 1988 in Funchal, Portugal |
| Founder | Horácio Roque |
| Defunct | December 21, 2015 |
| Fate | Nationalised and sold to Santander Group |
| Successor | Banco Santander 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] |
| €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] |
| Website | www.grupobanif.pt |
Banif Financial Group (Portuguese: Banif - Grupo Financeiro) was a Portuguese international financial services group associated with Banco Internacional do Funchal. The company had a presence in Europe, South America, North America, Africa and Asia. In 2015, it was bailed-out by the Portuguese state and sold to Santander Group.
History[edit]
Banif was founded and incorporated by Horácio Roque[2] 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.
In the wake of 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. In December 2015, as part of a 2,2 billion euro bailout and restructuring, the Portuguese government sold the remainder of Banif's assets to Banco Santander Totta, the Portuguese subsidiary of Santander Group, for 150 million euros.[3][4]
Subsidiaries[edit]
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[edit]
Portuguese[edit]
In March 1992, Banif first appeared on the Lisbon and Porto stock exchanges.
North American[edit]
In 2002, Banif Securities acquired the Brazilian brokerage firm Indusval, giving them a place on the floor of the New York Stock Exchange.
References[edit]
- ^ a b c d e f "Annual Report 2010". Banco Português de Investimento. Retrieved 24 July 2011.
- ^ "Banif bank founder Horácio Roque dies". The Portugal News. 2010-05-22. Archived from the original on 2011-07-17. Retrieved 2010-05-30.
- ^ Portugal sells Banif to Santander as part of 2.2 billion euro rescue, Andrei Khalip et Sergio Goncalves, Reuters, 21 décembre 2015
- ^ Santander Buys Portugal's Banif for $163 Million Amid Resolution, bloomberg.com, retrieved 22 December 2015
External links[edit]
| Central bank | |
|---|---|
| major Portuguese banks | |
| Other retail banks & financial institutions |
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| Defunct banks & financial institutions | |