Banco Safra is a Brazilian
financial services company headquartered in
São Paulo
São Paulo (, ; Portuguese for ' Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the Ga ...
, Brazil. It is the seventh largest banking institution in Brazil, and the
nineteenth largest in Latin America. It provides services in
investment bank
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
ing,
private banking
Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
,
asset management, and
retail banking through its
neobank
A neobank (also known as an online bank, internet-only bank, virtual bank or digital bank) is a type of direct bank that operates exclusively online without traditional physical branch networks. The term "challenger bank" is used in the UK to re ...
AgZero. The bank is part of the financial
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
Safra Group
The J. Safra Group is an international network of companies controlled by the Safra family, comprising banking and financial institutions and industrial operations. It is present in the United States, Europe, the Middle East, Latin America, ...
.
History
The
Safra family's history in banking originated with caravan trade between
Aleppo,
Alexandria
Alexandria ( or ; ar, ٱلْإِسْكَنْدَرِيَّةُ ; grc-gre, Αλεξάνδρεια, Alexándria) is the second largest city in Egypt, and the largest city on the Mediterranean coast. Founded in by Alexander the Great, Alexandri ...
and
Istanbul
)
, postal_code_type = Postal code
, postal_code = 34000 to 34990
, area_code = +90 212 (European side) +90 216 (Asian side)
, registration_plate = 34
, blank_name_sec2 = GeoTLD
, blank_i ...
during the
Ottoman Empire
The Ottoman Empire, * ; is an archaic version. The definite article forms and were synonymous * and el, Оθωμανική Αυτοκρατορία, Othōmanikē Avtokratoria, label=none * info page on book at Martin Luther University) ...
. With the collapse of the Ottoman Empire after the First World War the Safras moved to
Beirut
Beirut, french: Beyrouth is the capital and largest city of Lebanon. , Greater Beirut has a population of 2.5 million, which makes it the third-largest city in the Levant region. The city is situated on a peninsula at the midpoint o ...
. The Safras decided to move to Brazil in 1952. In the 1960s,
Joseph Safra and his father, Jacob Safra, founded Banco Safra, S.A. Most of the Brazilian Sephardic
Syrian Jewish community established themselves as retail or wholesale merchants. After having established many financial institutions in Lebanon's capital,
Beirut
Beirut, french: Beyrouth is the capital and largest city of Lebanon. , Greater Beirut has a population of 2.5 million, which makes it the third-largest city in the Levant region. The city is situated on a peninsula at the midpoint o ...
in the 1950s, the Safras set up a small specialized bank which originated letters of credit between Sephardic importers and major banks. From this base they grew via the acquisition and opening of new branches.
In 2014
Joseph Safra purchased the remaining shares of Banco Safra,
Safra National Bank of New York and Banque Safra-Luxembourg S.A. from his brother,
Moise Safra.
Operations
A full-service
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with co ...
, Banco Safra S. A. operates in all areas of the financial sector. Through its major Brazilian subsidiaries, Safra Leasing, Safra Seguros S. A., Safra Distribuidora de Títulos e Valores Mobiliários and Safra Corretora de Valores e Câmbio Ltda., the bank’s activities extend beyond traditional lending operations to
leasing,
securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liabili ...
, investment fund management,
stock brokerage and
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
operations. The bank is also active in trade finance,
asset management and
treasury
A treasury is either
*A government department related to finance and taxation, a finance ministry.
*A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or i ...
operations.
See also
*
Safra Group
The J. Safra Group is an international network of companies controlled by the Safra family, comprising banking and financial institutions and industrial operations. It is present in the United States, Europe, the Middle East, Latin America, ...
*
Safra National Bank of New York
*
J. Safra Sarasin
*
Joseph Safra
*
Edmond Safra
Edmond J. Safra ( ar, ادموند يعقوب صفرا; 6 August 1932 – 3 December 1999) was a Lebanese-Brazilian banker who continued the family tradition of banking in Brazil and Switzerland. He was married to Lily Watkins from 1976 until ...
References
External links
Official website{{authority control
Banks of Brazil
Brazilian brands
Companies based in São Paulo
Privately held companies of Brazil
Safra family
Banks established in 1955
1955 establishments in Brazil