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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Intesa Sanpaolo Spa | BIT:ISP | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.024 | 0.65% | 3.727 | 3.724 | 3.7275 | 3.7475 | 3.683 | 3.7465 | 83,493,096 | 17:00:00 |
From May 2019 to May 2024
By Rogerio Jelmayer
SAO PAULO--Intesa Sanpaolo SpA (ISNPY, ISP.MI) on Monday announced the launch of a unit in Brazil, becoming the first Italian bank to operate in Latin America's largest nation.
The opening came after the bank obtained authorization from Brazilian regulators to operate as a commercial bank and investment bank, including approval to operate in local currency and on the foreign-exchange market.
"The launch of operations at the new Sao Paulo branch represents for our group a much anticipated consolidation in a market that has always been important for us," Gaetano Miccichè, the bank's general manager, said in a statement.
Intesa Sanpaolo is entering in a highly concentrated market. In Brazil, the six largest banks represent around 90% of the total system, according to the central bank.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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