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Safra Completes Delta North Bankcorp Acquisition
Delta provides private banking and wealth management services to HNW clients via offices in New York and Miami.
Safra New York Corporation, which is the holding company of Safra National Bank of New York, has wrapped up its purchase of Delta North Bankcorp, including its subsidiary Delta National Bank and Trust Company.
The deal enables Safra’s further push into the wealth management and private banking space. Delta provides private banking and wealth management services to high net worth clients through its offices in New York and Miami.
Financial terms of the deal weren’t disclosed. The transaction was originally announced in late November last year.
"We are proud to have completed this acquisition, which represents an excellent strategic fit to our existing business in these markets,” Jacob J Safra, chairman of Safra National Bank of New York, said.
The transaction will bolster the organization’s reach in the US and throughout Latin America, Simoni Morato, chief executive of Safra National Bank of New York, added.