Intesa Sanpaolo opens a Representative Office in Sydney, confirming the Group's commitment alongside Italian companies that operate or intend to operate on foreign markets to seek new growth opportunities.
The Sydney office is the territorial reference for Australia of the international network of the Corporate & Investment Banking Division and will be coordinated by the Hong Kong Hub Branch, responsible for the Asia-Pacific area, where the group is also present in Shanghai, Singapore , Tokyo, Beijing, Ho Chi Minh City, Mumbai and Seoul.
Australia, which has seen uninterrupted growth in its GDP over the last 20 years and is rated "AAA stable" by international rating agencies, is not a new market for the Bank which, through the Hong Kong branch, actively operates there for some years and has thoroughly studied its potential, both with respect to the interests of Italian companies and as regards those of the Group's international corporate customers.
In addition to developing relations with institutional bodies, the financial and business community, the Representative Office will promote correspondent banking services by interacting with the main banks in the country, offer assistance and advice to companies for entry and development on the local market, will be involved in the acquisition of foreign customers and will act as a bridge for Corporate and Financial Institutions seeking investment and partnership opportunities in Italy.
The Sydney office, operating in close synergy with the Hong Kong branch, will also support commercial banking activities and offer Corporate and Project Finance products, with a particular focus on the Power & Utilities, Oil & Gas, Technology, Media sectors & Telecommunication, Mining and Infrastructure, as well as Cash Management and Trade Services.
The opening of the Sydney Representative Office strengthens the Group's presence abroad, already active in over 40 countries. Intesa Sanpaolo, with a network of Branches, Representative Offices and Banks specialized in corporate banking, is present in 30 countries to support the cross-border activity of Corporate and business customers, through the International Department of the Corporate & Investment Banking Division. Finally, through the subsidiary banks that report to the International Subsidiary Banks Division, it ensures strategic coverage of the territory in 12 other countries in Central-Eastern Europe and in the Middle East and North Africa, providing both retail and commercial banking services, as well as corporate banking .
