The leasing arm of Banif SGPS, the Portuguese bank, is expected
to expand during 2008 in line with growth expectations of its
parent.
The bank opened 35 branches last year – and plans to do the same
again in 2008, some of which will provide asset finance capability
through Banif Leasing.
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According to Banif chairman, Horacio Roque, it will have 500
points of sale by year end. Many of these will include leasing and
related financial services products.
The parent also plans to have 25 branches in Brazil by the end
of 2008.
Banif Leasing has €10m of share capital, making it one of the
bank’s larger financial services arms. The bank also provides
factoring and signed €235m of credit in 2005 which generated
commissions of €918,000.
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