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Banco de Inversiones, S.A. was set
up by Corporate Charter No. 344, of February 14, 1996, issued by
the Special Notary’s Office of the Ministry of Justice of the Republic
of Cuba.
Banco Central de Cuba ratified the License previously issued by
Banco Nacional de Cuba and granted Banco de Inversiones, S.A. a
Type A Special License by means of Resolution No. 23, of 1997.
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Among its operations authorised are the following:
- To handle banking transactions of all kind, especially those
related to the financing and/or administration of investments.
- To attract funds and grant credits on its own account or as
trustee for Cuban or foreign, corporate or natural persons.
- To advise national or foreign, corporate or natural persons
on banking and stock exchange transactions and financing of investment
projects.
- To purchase and/or sell shares, bonds, mortgages and other securities.
- To act as agent of any corporate or natural person, national
or foreign, in matters related to its corporate purpose.
- To take, accept, and execute any legal representation, function
or power not forbidden by law that may be granted, trusted, conferred
or transferred to it. The Bank may act as representative, trustee
or receiver of shares, mortgages and other securities of any tenor.
- To take shares, bonds and other securities into custody with
the terms and conditions it may want to establish.
- To sign contracts with public or private companies in the national
territory or abroad, inclusively empowered to manage those companies,
if necessary, to meet its objectives.
The main specialised services it provides are the following:
- To participate in the creation of Joint Ventures and Economic
Associations, with advisory to the interested parties.
- To find financing for the expansion of the existing enterprises,
under previous evaluation of the projects.
- To advise on financial, banking and stock exchange issues.
- To merge and wind up companies.
- To evaluate and give financial support to business projects.
- To organise credit facilities for investment projects.
- To manage discount of commercial paper through SEDEC, by means
of its electronic commerce.
- To publish "Hoy en el Mercado" bulletin and organise
Seminars as part of advisory given to clients.
It holds accounts in freely convertible currency and in national
currency in different banks of the system as well as other accounts
in freely convertible currency in correspondent banks abroad. Since
its creation, Banco de Inversiones, S.A. has actively participated
in financing investment projects and joint ventures in the most
important sectors of the economy.
It is the only investment bank in the country with very specialised
services in this matter. |
