Fimbank, the Malta-based trade finance bank has inaugurated its new office in Sao Paulo, Brazil, and commemorated its 10-year presence in the country through its 100%-owned subsidiary, London Forfaiting Company (LFC).

Margrith Ltschg-Emmenegger, Fimbank’s president, Simon Lay, LFC’s managing director, and Alexander Ozzetti, managing director of LFC Brazil, hosted around 80 guests representing prominent corporates (such as Volvo, Friboi, Voith, Avibras) as well as leading international banks (such as BNP, HSBC, Deutsche Bank, ABN Amro, Santander, WestLB, Bradesco and Safra).

LFC was established in 1984 and specialises in the arrangement and provision of forfaiting and other trade-related finance products. The company, which started operating in Brazil in 1996, is today recognised as a leading player in the forfaiting market worldwide.

Since Fimbank Group acquired LFC in 2003, its global presence was significantly expanded, which resulted in widening the group’s activity range and providing opportunities to further diversify product and risk base.