Banco Safra facts for kids
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Banco Safra headquarters in São Paulo
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| Privately held company | |
| Industry | Finance and Insurance |
| Founded | 1955 |
| Headquarters | São Paulo, Brazil |
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Key people
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Carlos Alberto Vieira (chairman) |
| Products | Financial services |
| Revenue |  US$5.9 billion (2012) |
| US$575.1 million (2013) |
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| Total assets | US$55.4 billion (2012) |
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Number of employees
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5,456 |
| Parent | Safra Group |
| Subsidiaries | Bank Sarasin |
Banco Safra is a large Brazilian company that helps people and businesses with their money. Its main office is in São Paulo, Brazil. It is one of the biggest banks in Brazil and also in all of Latin America.
The bank offers many services. These include helping people invest their money, managing money for wealthy clients, and providing regular banking services like checking accounts. They even have a modern online bank called AgZero. Banco Safra is part of a bigger financial group called Safra Group.
A Long History of Banking
The Safra family has been involved in banking for a very long time. Their story began with trading goods between cities like Aleppo, Alexandria, and Istanbul during the time of the Ottoman Empire. This was like a very old form of business and banking.
After the First World War, the Ottoman Empire ended. The Safra family then moved to Beirut, a city in Lebanon. In 1952, they decided to move to Brazil.
In the 1960s, Joseph Safra and his father, Jacob Safra, started Banco Safra, S.A. Many people from their community in Brazil were merchants. The Safras first set up a small bank. This bank helped traders get special documents called letters of credit. These letters made it easier for them to do business with big banks. From this small start, the bank grew by buying other banks and opening new branches.
In 2012, Joseph Safra bought all the remaining shares of Banco Safra from his brother, Moise Safra. He also bought shares in other Safra banks in New York and Luxembourg.
What Banco Safra Does
Banco Safra is a full-service bank. This means it offers many different types of financial help. It works in all parts of the money world.
Through its main companies in Brazil, Banco Safra does more than just lend money. It also helps with:
- Leasing: This is like renting something for a long time, often for businesses.
- Securities: These are like investments, such as stocks and bonds. The bank helps companies sell these.
- Investment Funds: They manage money for people who want to invest together.
- Stock Brokerage: They help people buy and sell stocks.
- Insurance: They offer different types of insurance.
The bank also helps with international trade, manages money for clients, and handles money for the bank itself.
See also
- Safra Group
- Bank Jacob Safra Switzerland
- Safra National Bank of New York
- J. Safra Sarasin
- Joseph Safra
- Edmond Safra
