BNY Mellon has been appointed by Banco Santander Brasil SA as the depositary bank for its American depositary receipt (ADR) programme.
Each ADR represents one unit consisting of common and preferred shares of Banco Santander Brasil and trades on the New York Stock Exchange under the symbol ‘BSBR.’
Banco Santander Brasil’s units trade on the BMF&FBOVESPA under the code ‘SANB11.’
As reported by the company as of June 30, 2015, Santander Brasil is the third-largest private sector bank in Brazil and largest foreign bank operating in the country with a client base of more than 31 million.
With principal offices in São Paulo, the bank relies on a team of over 50,000 employees and a service network throughout the Brazilian territory comprised of 3,436 branches and mini branches, more than 30,000 owned and shared ATMs, as well as technology and consumer service centers.
“We look forward to working with Banco Santander Brasil and helping to facilitate its access to the US investment community,” said Christopher M. Kearns, CEO of BNY Mellon’s Depositary Receipts business.
“Brazilian companies have long relied on BNY Mellon as their depositary bank to assist them in achieving a higher level of visibility and awareness for their ADR program.”
BNY Mellon established the first DR programme in Brazil in 1992 and has grown its team of Portuguese-speaking specialists, today providing cross-border support for the majority of the country’s DR issuers, across all industries.
The company also now serves as depositary for 15 banks across Latin America. In August, BNY Mellon announced that it had been chosen by Banco Santander Chile as the successor depositary for its ADR programme.