Brazilian bank creates future with partners in China
Andrea Scaldaferri, general manager of the Banco do Brasil Shanghai branch
On the 50th anniversary of the establishment of diplomatic relations between China and Brazil, Banco do Brasil sends its sincerest compliments for the cooperation between the two nations and the business relationships of its entrepreneurs, which make China Brazil's main trading partner in exports and imports.
With great honor, we have a branch in Shanghai, and we are the first Brazilian bank to operate in China, being the only one in the country. We continually work to increase bilateral cooperation and strengthen the Sino-Brazilian trade and investment flow.
Our team is highly qualified and serves in Portuguese, English, and Mandarin, and advises companies and projects of mutual interest, and assists and supports deals for clients on their international journeys. We offer solutions in trade finance, current accounts, foreign exchange, consulting, guarantees, loans, and financing for companies.
BB Shanghai 10th anniversary celebration
Milestones of BB in China
- Founded 215 years ago, Banco do Brasil S.A. is a publicly listed company, which the Brazilian Federal Government holds 50 percent of the shares.
- In 2004, following the inaugural China-Brazil High-Level Coordination and Cooperation – COSBAN – an initiative spearheaded by President Lula, BB reopened a representative office in Shanghai after an office set up earlier in Beijing was closed in 2001.
- In 2014, the office was elevated to the status of a full branch, thereby enabling it to provide financial support for trade flow between China and Brazil.
- In 2015, BB Shanghai started the first local credit transaction to facilitate trade between China and Brazil.
- In 2018, BB Shanghai, a Chinese financial institution, and local teams in Brazil issued the first bank guarantee on behalf of a Brazilian policy bank. The deal served as a model for similar cross-border, cross-currency, and cross-language transactions.
- In 2024, in order to further reinforce the synergies and boost trade operations, BB Shanghai is in the process of submitting an application to the NAFR for the purpose of conducting transactions in Renminbi.
