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Wednesday, October 5, 2022

To unify brands, Calcaterra renames its bank: what it will be called and what products it will offer

It will start using BI Bank, a brand it launched to compete in the online world and will now be expanded to its entire portfolio of operations.

By andres sanguinetti

21/09/2022 – 11,40hs


On Monday, September 19, the board of interfinance bank decided to approve the draft Change From social sect for the unit Bibank SA The decision is part of a process to integrate brands and businesses that are owned by the bank’s brothers. Angelo and Fabio Calcaterra Launched in late 2021.

It directed the senior management of the institute to submit a request for approval of the project to change the corporate name to an official entity, in compliance with the norms set by the Central Bank. Miguel Fish.

The objective is to launch a commercial process that identifies the financial opportunities offered by the online world, with a digital brand that gains presence and the ability to generate business in an agile and proactive manner. was the beginning of the initial phase B BankA digital entity that has its own identity but was regulated by Interfinenza and aims to meet all the financial needs of SMEs.

Now, with the change in the name of the company, That identity is also transferred to the rest of the operations That entity has grown into a wholesale bank since its establishment in 1971, when its predecessor, Compaía Financiera Interfinanzas (CIFSA), began its business in Argentina.

Then, in 1989, Creditanstalt AG acquired 20% of the bank and increased its stake to 30% in 1990. at that time, and to reflect new capital structureBanco Interfinanzas was renamed Banco BI Creditanstalt.

but in 2016 Calcaterra closed the purchase of 100% of the share capital In 2018, only Angelo’s brother, Fabio, lives with 40% of the total. With the remaining 30% is shared between Ignacio Sanz Valiente and Guillermo Navone of Aurum Valores; Hugo Maglioli and Jorge Ruival 15% and Sebastian Poncelies, 15%.

Bi Bank Is Sme Oriented For Services

BI Bank gears up for digital services for SMEs

advance digital

Based on this new shareholding structure, business plan To five times the value of Interfinanzas, make it money, put it on the map, expand it across the region, and incorporate technology.

On this path, last year the stakes were on the way forward. digital businessTargeting the masses other than Neobanks or digital wallets, such as SMEs who are under-served by the traditional financial system, while new digital developments tend to ignore them as well.

They currently already offer online accounts to manage business, financing, investments, foreign trade and API options for the purpose of “accessing personalized digital banking services”.

During the second quarter of this year, it continued its strategy of strengthening the commercial portfolio, achieving modest growth in loans and more significant growth in deposits.

With regard to the commercial aspects, it has continued to expand its range of products and services and has largely included electronic cheques, web fixed term deposits, negotiable obligation guarantees, checks and promissory notes.

It maintains the objective of increasing the volume of clients for commercial tie-ups in MEGRA and SME segment as well as expanding coverage of institutional segment and public sector.

To finance his plan, in May he offered a . approved Capital increase for $650 million In cash subscription by all the shareholders in proportion to their shares.

With part of these funds, he completed the purchase of one floor of the administrative offices of the bank where his legal domicile is located.

Over the same period, it reported an accumulated loss of $314 million, an improvement of $165 million compared to the same period last year, representing a 35% increase in results.

World Nation News Desk
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