Havin Bank Ltd.
National Bank of Cánada
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
Republic Bank Ltd.
Caja de Ahorro del Mediterráneo
BPCE INTERNATIONAL ET OUTRE-MER (BPCE-IOM)
Havin Bank Ltd.
was set up on October 3, 1972, as a Private Limited Company, by
means of a Certificate of Incorporation issued by "Company
House", under the laws and regulations of the United Kingdom
and is submitted to the supervision of the Finance Service Authority
(FSA), which was created as a substitute for the activities that
were previously carried out by the Bank of England.
The Bank of England authorised Havin Bank
Ltd. to operate as a bank, in August, 1973, being the only
bank with absolutely Cuban capital formed outside Cuba, in which
Banco Central de Cuba is a shareholder.
Banco Nacional de Cuba issued Havin Bank
Ltd. a License to establish a Representative Office in
Cuba by means of Resolution No. 88, of 1991. The Office was officially
set up in May, 1995.
From the beginning, has known how to take
advantage of its location in the City of London, one of the major
financial centres of the world, and from having and developing an
extensive understanding of the Cuban market, its enterprises, perspectives
EThis unique position, together with the efficiency and professionalism
of its personnel, has allowed it to conceive, develop and consolidate
the Cuban market by conveying financing through the Bank and assisting
its clients with a wide variety of banking services which, among
others, enable it to perform the following operations:
- To attract, receive and keep resources in demand or time deposits,
in suitable forms and at a very competitive rate of interest.
- To grant any form of financing.
- To carry out all types of operations with negotiable commercial
- To carry out all forms of international banking activity.
SIts ample network of over 400 correspondents throughout the world,
enables Havin Bank Ltd. to provide
a whole variety of banking services requested by its clients in
different currencies and markets.
Note. Photo of the Head Office in the City of London
National Bank of Canada, present
within the economic and social scene of the country for more than
135 years, is currently registered as one of the most important
banks of Canada with assets accounting for over 78 billion dollars.
Its Canadian network comprises about 655 branches and offices as
well as 49 service centres for enterprises. The Main Office of National
Bank of Canada is in Montreal.
National Bank of Canada is also present in the
international scene (USA, Europe, Asia, Latin America and the Caribbean).
Its relation with Cuba, specifically, dates back to more than 28
years. The bank participates in the capital of many finance companies
and has subsidiaries in the fiduciary, marketable securities and
insurance sectors as well as in those of export development and
National Bank of Canada has set itself the mission
of serving a diversified clientele, thus offering a great number
of products, adjusted to the needs of individuals and enterprises,
whether small or big.
The constant worry of the Bank to satisfy the needs and expectations
of its clients is expressed not only in a great variety of methods
of payment, saving, investment and financing but also in the services
provided by a specialised personnel, capable of properly advising
clients on the increasingly number of products and services it offers.
Owing to its long tradition and to the experience of numerous institutions
it has merged with, National Bank of Canada intends to continue
its efforts through its broad network of branches and its 17,300
employees who, undoubtedly are the most precious asset of the Bank.
Since January 20, 1995, National Bank of Canada
has been present in Cuba through a Representative Office, authorised
by Resolution No. 22 of the same year, issued by Banco Nacional
Its Representative Office has contributed to strength commercial
relations of its clients with Cuban enterprises as well as with
the whole Cuban financial system. Its activities focus on promoting
development on financing of bilateral trade, advising Canadian clients
and orienting investors towards the best targets, offering them
its expertise in foreign trade and international financing.
Banco Bilbao Vizcaya Argentaria, S. A. (BBVA)
has completed in 2001 a successful stage. In only two years of its
establishment, BBVA has been able to conclude a
merging process and to place itself among the most efficient, profitable
and solvent financial groups of Europe. In a downturn environment
of the main economies, it has achieved high quality results, new
efficiency advances and outstanding levels of profitability and
BBVA is a well diversified financial group internationally,
and has made itself present in 37 countries, basically in Europe
and Latin America through a network of 7,988 Offices, 3,620 in Spain,
and a payroll of 98,588 employees, of which 31,686 are in Spain.
The strategy of geographical expansion has been concentrated mainly
in Latin America, a region in which the Group has built in recent
years one of the main global franchise with a market share over
10,0 percent in the banking business and an outstanding leadership
in the pension business with a share over 27,0 percent, high above
its more immediate competitors.
Despite the downturn of the main economies, BBVA has
achieved high quality results, new advances in efficiency and outstanding
levels of profitability and equity soundness. Benefits obtained
by the Group in the 2001, amount up to 2,363 million Euros, a figure
over by 5,9 percent in relation to last year, determining profitability
on equity of 18,0 percent. Efficiency margin is 50,4 percent, one
of the best indicators of the major banks in the Euro zone, with
an advance of almost 3 points in the fiscal year. Likewise, 3,511
million Euros has been destined to streamlining, a figure above
by 70,0 percent to that of the 2000, despite profits made were less
and that arrears of payment indicators are at minimum levels. Of
the said amount, 1,354 millions have been used to hedge risk derived
from investment in Argentina.
BBVA Group relations with Cuba are ancestral and intense covering
diverse sectors of the Cuban economy, but focused on the financial
sector by actively participating in traditional banking interchanges,
such as industrial project and trade operation financing.
Its physical presence dates back from February, 1995, and the
Representative Office’s main activities are oriented to management,
promotion and coordination of business related with banking sector
and other national entities, including those with foreign capital
participation as well as to advise and provide information on different
aspects related with banking operation and the economy in general.
Banco Sabadell was founded on December
31, 1881, in Sabadell (Barcelona) with Spanish private capital.
Its main activity is commercial banking with important participation
in medium and small size enterprises and individuals of high and
At the end of the 2001, it counted on more than 50,000 shareholders
7,788 employees in 918 offices with a significant concentration
in Cataluña, Asturias, and Madrid. Banco Sabadell leads the
fourth Financial Group of the Spanish banking sector, together with
Solbank (former NatWest Spain), Banco de Asturias and Banco Herrero.
Caixa and Banco Comercial Portugués are its strategic partners.
It is considered a leader in various financial services with a long
historical record of high profitability. Its assets are over 26,500
During the 2001, Banco Sabadell reorganised and
consolidated its presence internationally. At present the Bank has
fifteen offices abroad, out of which four branches and eleven representative
offices are disseminated along the world. As part of its America
Project, it holds strategic participation in Banco del Bajío
in Mexico, and Group BHD in the Dominican Republic.
The presence of Banco Sabadell in Cuba has been
consolidated since 1995, when Banco Nacional de Cuba granted it
License No. 330 to establish its Representative Office. At present
it participates with 50,0 percent in Financiera Iberoamericana S.A,
being the other 50,0 percent held by Grupo Nueva Banca S.A.
Société Générale opened its Representative
Office in Cuba at the beginning of 1996, according to a License
issued to it by Banco Nacional de Cuba, by means of Resolution No.
329, of February, 1996.
Société Générale was the first French bank to
establish in the Cuban market. The License granted to it authorises
Bank to manage, promote and coordinate financial activities with
banks of the national banking system and other national entities.
In Cuba, Société Générale actively participates
in export and import financing. Among others, it also intends to
support foreign investors interested in the Cuban market as well
as to facilitate contacts with clients of Société
Générale which have or want to establish or develop
trade and investment in Cuba.
Société Générale, set up in 1864, is a French
bank group listed in the Paris Stock Exchange with a strong international
The world presence of the group is reflected in the following figures:
- In France, 2,600 branches service to 7,5 million clients.
- Abroad it holds 500 offices in 75 countries.
The group employs 86,500 persons in its total, of which, around
half of it works outside France and also, it is the thirteenth European
bank in regards to its stock exchange capital which raised to 27
billion Euros at the end of the 2001.
Its portfolio of activities is made up of three strong poles:
- Retail activity through its network of branches which has enabled
it to gain 13 million clients in France and abroad.
- Asset management through SG Asset Management holding number
one position in France and number three in the Euro zone.
- Investment banking and capital market, holding in 2000 and 2001
number two position in export financing and structure financing
FRANSABANK SAL was established in
Beirut in 1921 as a full branch of one of the major French banks
at the time, Crédit Foncier d’Algérie et de Tunisie
(C.F.A.T.). It includes among its partners two of the most worldwide-recognized
financial institutions: Crédit Agricole from France and DEG
FRANSABANK SAL is one of the leading Lebanese
banks and it provides a wide range of retail and commercial banking
and financial services, basically to individuals and private sector
companies. The Bank also provides corporate banking services, such
as lease financing (lease with the purchase option) through its
subsidiary and syndicated loans. The Bank is experiencing a solid
growth in a competitive market.
The Bank’s activities are diversified with the purpose to achieve
the goal of becoming a Universal Bank. In recent years, it has introduced
a broader range of retail banking products and services, such as
small and medium personal credits and housing loans as well as debit
cards and automated teller machines. Its corporate banking and project
finance sectors also continue to develop and grow. While the trade
finance remains an area of prime importance for the Bank, it is
also emphasising longer-term lending to the industry and other sectors
FRANSABANK SAL provides its corporate clients
with a full range of banking services including medium- and long-term
loans offered to the industry and other sectors, discounting of
bills, working capital facilities and international transfers.
In 2000, its strategy to become a Universal Bank was broadly evidenced.
Its objective of widening and deepening relations with clients in
all the economic sectors and of guaranteeing high quality services
has been fulfilled to a great extent.
FRANSABANK SAL has been issued a License to establish
an Investment Bank. Economic activities of this new entity will
include private banking, such as brokerage and portfolio asset management,
and selected activities of investment banking.
The credit department at the Bank has been restructured to include
a Management Risk Unit, whose main objective is to control the Bank’s
FRANSABANK SAL’s Representative Office in Havana
was inaugurated in 1995, by means of a license granted by Banco
Nacional de Cuba under Resolution No. 53 of the same year. The Office
is managed by a Representative from Beirut. Since 1994, FRANSABANK
SAL has provided financial services to many Cuban enterprises.
FRANSABANK SAL is managing a medium- and short-term
BNP PARIBAS, a power in international
banking, is the first quoted bank group in the Euro zone. It holds
the first position in that zone due to its net result and by the
end of 2001, its shareholders’ equity was worth 24,600 million Euros.
The group has one of the most important international networks
in the world, strengthened by its presence in
85 countries and in the group of first class financial markets.
It has 85,000 employees of which 65,000 are in Europe. In 2001,
BNP PARIBAS contracted more than 4,000 young people, the majority
of them graduated from higher education. As the rest of the employees,
these new incorporations benefited from a dynamic and incentivating
BNP PARIBAS is organised around the poles of activities
which group the segments that the bank has chosen to develop.
- Financial and investment banking.
- Private banking, asset, security, insurance and real state management.
- Retail banking in France.
- International retail banking.
- Specialised international services.
BNP PARIBAS is, likewise, one of the main participants
in the electronic commerce field, specially, in regard to securitization
and the treatment of Internet flows.
Its Office in Cuba opened its doors as of February 1st, 2000, by
means of Resolution No. 81, of October 4, 1999, of Banco Central
de Cuba, to engage in the main activity of providing assistance
to French investors/exporters, represent the Bank before the Cuban
authorities and banks and to follow up operations of credits established
by International Trade for the import financing of raw materials
Republic Bank Ltd. opened it Office
of Representation in Cuba at the beginning of May, 2002, when it
was issued to it a license by Banco Central de Cuba, under Resolution
No.15/2002, inscribed in the General Register of Banks with number
Republic Bank Ltd. was set up in 1837 in Trinidad
Tobago. At present it is the top independent bank of the
Caribbean, with a broad projection in the whole region in the promotion
of trade relations between these countries.
Republic Bank Ltd. counts on assets of over USD
3,000 millions, and equities for USD 400 millions. Its leader position
has been consolidated in the last decade within the financial system
of Trinidad and Tobago, attaining market participation of over 40,0
percent, in deposits as well as in placements. Moreover, it has
extended its participation in the Caribbean through its branches,
the National Commercial Bank of Granada and the National Bank of
Industry and Commerce of Guyana, which are the top banks of their
System. Also, their activities in the region have increased notably
by means of trade financing operations in South America, Dominican
Republic, Jamaica and Cuba.
The main services provided by Republic Bank Ltd are the following:
- Consumer banking.
- Foreign trade financing.
- Credit facilities for PYMES.
- Investment financing.
- Capital market operations.
- Credit cards.
Republic Bank Ltd. has been financing trade operations
in Cuba since 1999, granting credit lines to different financial
institutions established in the country, in support to import and
exports made by Cuban enterprises.
The Representative Office of Republic Bank established
in Cuba, will facilitate trade operations of the Bank in the Island,
and identify business opportunities linked to financial services,
such as bill discount, direct loans, opening of letters of credit
to finance imports and export financing for subsequent approval
and implementation by the Headquarters of Republic Bank Ltd. in
Trinidad and Tobago.