The new office will refer to the Hub Branch in Hong Kong, confirming the Group’s commitment of Italian companies operating or intending to operate on foreign markets to seek new opportunities for growth.
The Intesa Sanpaolo office in Sydney is the territorial reference to Australia’s international network of the Corporate & Investment Banking and will be coordinated by the Branch Hub in Hong Kong, responsible for the Asia-Pacific, where the Group also has offices in Shanghai, Singapore, Tokyo, Beijing, Ho Chi Minh City, Mumbai and Seoul.
Australia, in the last 20 years has seen a steady growth of its GDP and is rated “AAA stable” by international rating agencies, it is not a new market for the Bank, which, through its subsidiary in Hong Kong, will work actively for some years and has thoroughly studied the potential, both with respect to the interests of Italian companies, both in terms of those of the Group’s international corporate customers.
In addition to developing relationships with institutional bodies, the financial community and the enterprise, representative office will promote the services of correspondent banking interacting with the larger banks in the country, will provide advice and assistance to companies for entry and development on the local market, will be engaged in the activity of acquisition of foreign customers and serve as a bridge to the Corporate and Financial Institution seeking investment opportunities and partnerships in Italy.
The Sydney office, working closely with the Hong Kong Branch, will support activities of commercial banking products and offers Corporate and Project Finance, with a particular focus on sectors of Power & Utilities, Oil & Gas, Technology, Media & Telecommunication, Mining and Infrastructure, in addition to the Cash Management and Trade Services.
The opening of the representative office in Sydney strengthens the Group’s presence abroad, already active in more than 40 countries. The bank, with a network of branches, representative offices and banks specialised in corporate banking, is present in 30 countries in support of cross-border corporate customers and businesses, through the Directorate of International Corporate & Investment Banking.