Banco Internacional do Funchal

Banco Internacional do Funchal (BANIF) is an international bank, founded in Portugal, with a presence in South America, North America, Europe and Africa.

History

BANIF was incorporated 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, and in 1996 in São Paulo, Brazil.

Subsidiaries

BANIF consists 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, SA (1989)
• Mundileasing - Sociedade de Locação Financeira, SA (1990)
• Mundicre - Sociedade Financeira para Aquisições a Crédito, SA (1991))
• Banifundos - Sociedade Gestora de Fundos de Investimento Mobiliário, SA. (1991)
• Invesfeiras - Investimentos Imobiliários, SA. (1991)
• BANIF - Investimentos - SGPS, SA (1992)
• Banifólio - Sociedade Gestora de Patrimónios, SA (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, SA (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.

External links

• Official BANIF website