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,

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. Sede do Banco Safra - by Lucas

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.

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

History

Operations

See also

References

External links