RealTime IT News

Hewlett-Packard Will Have Investment Bank in Brazil

Hewlett-Packard Brazil has just received authorization from the Brazilian Central Bank and the National Monetary Counsel that allows them to open an investment bank in Brazil.

Carlos Ribeiro, President of HP Brazil, says the bank will be operating by the end of the year. "All we need now is to prepare the system." HP Brazil is investing US$ 70 millions on the project.

At this first stage, Ribeiro says, the bank will consider only the big projects, but in the near future HP Brazil's bank will open its sources to medium and small businesses.

HP's main target is to help their consumers with exclusive financial conditions for them to acquire HP's complete solutions, also allowing them to have more flexibility during the buying process.

"With the bank, HP Brazil brings forward a market need and also enlarge the offer of technological solutions to its big range of consumers," says Ribeiro.

HP has a leasing operation in the US and in other countries where the company has its subsidiaries. In Ireland, the company also has a bank. The amount of HP's financial operations can reach US$ 6 billion all around the world.

In Brazil, HP will maintain its leasing operation through HP Arrendamento Mercantil, a company that intends to assure the needed financial resources for the development of the activities of the new bank.