28 September 2012

Handelsbanken Opens Office in São Paulo, Brazil

27 September 2012 - Handelsbanken is opening an office in São Paulo, the largest city in Brazil. This means that the Bank has units in 24 countries worldwide - more than any other Nordic bank.

"Brazil has become a larger and increasingly important market for many of our corporate customers. This is why we are establishing a presence there, so that we can assist our customers locally," says Carl-Gustav Moberg, Head of Handelsbanken's representative office in São Paulo.

São Paulo is the largest city in Brazil, with a population of around 11 million. It is also a leading financial centre. The region is the most industrialised part of the country.

"When corporate customers in our home markets - the Nordic countries and the UK - start up in new markets, they want us to be there too. We recently opened a representative office in Australia and we were also the first Nordic bank in both India and China," says Magnus Uggla, Head of Handelsbanken International.

Brazil is one of the rapidly growing BRIC countries (the others are Russia, India and China). In the past five years, the country's economy has grown by 4 per cent a year on average. Today, Brazil has a well-diversified economy with major investments in sectors such as oil and mining. 

Source: Handelsbanken