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Banco Financiero Internacional, S.A. (BFI)
a bank entity, inscribed as a joint-stock company under Decree-Law
No. 84, of October 13, 1984. It started operations on November 5th
of that year by means of a License issued to it on October 17, 1984,
to engage in banking business and empowers it to carry on commercial
banking operations, mainly in freely convertible currency, including
the following:
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- To take or grant deposits in cash on demand or for a term.
- To issue term deposit certificates.
- To receive and grant loans and other credit or financing methods.
- To handle transfer of funds to or from other countries.
- To buy and sell freely convertible currency, precious metals
and securities.
- To receive deposits of securities denominated in foreign currency
in custody or in trust.
- Provide services of property administration, financial and feasibility
studies, and carry out intermediation operations.
- To issue bank documents, such as letters of Credit, Avals, Letters
of Guarantees and others similar.
- To establish correspondent agreements with national and foreign
bank entities.
The management and organizational structure is made up of a President,
an Executive Vice-president, six General Directors, and Adjunct
Director and 17 Directors. Its main governing body is the Executive
Board, assisted by the Credit, Purchase, and Cadres Committees,
and a collegiate participation in its Extended Board of Directors.
Banco Financiero Internacional, S.A., provides
automated services by means of 31 branches along the whole country,
interconnected to the central system in real time. It plans 6 new
branches, located in important areas of economic and tourist development
of the country.
As a result of the work carried out by the bank since its establishment,
it has notably increased its capital and reserves as well as its
credit and financing capacity and has established correspondent
relations with a broad bank network abroad.
At present its main objective is oriented to diversification and
development of its services, continue advancing in the activity
of credit to Cuban enterprises, and services linked to remote and
electronic banking, concentrating its efforts in banking with corporations
and foreign naturals, economic associations and joint ventures.
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