Safra New York Corporation acquires Delta North Bankcorp

PRNewswireOctober 4, 20236 min

Safra New York Corporation, the holding company of¬†Safra National Bank¬†of¬†New York¬†(“The Bank”), is pleased to announce the successful completion of its acquisition of Delta North¬†Bankcorp, including its subsidiary¬†Delta National Bank¬†and Trust Company.

This strategic acquisition is a significant milestone for¬†Safra National Bank¬†and underscores the Bank’s continuous expansion in the private banking and wealth management business. The acquisition strengthens the Bank’s market position among high-net-worth clients in¬†the United States¬†and¬†Latin America, where the Bank has been providing premier private banking and financial services and has a long and successful track record.

Jacob J. Safra, Chairman of¬†Safra National Bank¬†of¬†New York:¬†“We are proud to have completed this acquisition, which represents an excellent strategic fit to our existing business in these markets. Clients will benefit from an organization that is fully dedicated to wealth management, providing the service, products and expertise that best meet their specific needs. We are confident that the Bank has all the attributes required to continue growing and prospering in a sustainable manner.

Simoni Morato, Chief Executive Officer of¬†Safra National Bank¬†of¬†New York:¬†“We very much look forward to working closely with Delta’s clients and employees and developing long term relationships. Together we will build on the strengths of our organization, not only in¬†the United States, but also throughout¬†Latin America.”

Safra National Bank of New York
Headquartered in¬†New York, with branches in¬†Aventura,¬†Miami¬†and¬†Palm Beach, and offices throughout¬†Latin America,¬†Safra National Bank¬†is a leading private bank with approximately¬†US$ 30 billion¬†in clients’ assets.¬†Safra National Bank¬†of¬†New York¬†is part of the J. Safra Group.

J. Safra Group
The J. Safra Group (the “Group”), with total assets under management of over USD¬†$300 billion, consists of privately-owned banks under the Safra name and investment holdings in asset-based business sectors such as real estate and agribusiness. The Group’s banking interests in 160 locations globally, are:¬†Safra National Bank¬†of¬†New York, headquartered in¬†New York City,¬†USA; J. Safra Sarasin, headquartered in¬†Basel, Switzerland; and Banco Safra, headquartered in¬†Sao Paulo, Brazil; all independent from one another from a consolidated supervision standpoint.

The Group’s real estate holdings consist of more than 200 premier commercial, residential, retail and farmland properties worldwide, such as¬†New York City’s¬†660 Madison Avenue office complex and¬†London’s¬†iconic Gherkin Building. Its investments in other sectors include, among others, agribusiness holdings in¬†Brazil¬†and Chiquita Brands International Inc. With deep relationships in markets worldwide, the Group is able to greatly enhance the value of businesses which are part of it. There are more than 34,000 employees associated with the J. Safra Group.

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