In addition to its own offices abroad, OP's international service offering relies heavily on a partnership strategy. This means that we make, develop and maintain cooperation with foreign banks that have a strong foothold in their home markets, best expertise of local business and corporate banking and the best conditions to offer suitable and versatile service solutions for our corporate customers. OP Insurance has a partnership with the international RSA Insurance Group, through which OP can offer its customers a global service network.
OP has approximately 3000 correspondent banks around the world, and the network is constantly expanding. In addition to correspondent banks, we have several partner banks with whom we have agreed on offering services to the customers of OP.
Our international banking cooperation network is constantly developing based on our customers' needs. In addition to standardised service concepts that cover several countries, we tailor suitable solutions for the needs of a single customer corporation and seek suitable cooperation banks for these, depending on the situation and country.
OP has a partner bank in Brazil, Russia, India and China. With its partner bank, OP can offer competitive payment services, cash management and financing solutions to companies establishing in each country and to Finnish companies practising import or export trade in the area. Our goal is to offer our customers the best comprehensive solutions available in each market.
In Brazil, OP partners with Banco Itaú Unibanco, the largest private bank in Latin America. Banco Itaú has a network of outlets covering the whole of Brazil and a service offering covering all product areas and customer segments.
In Russia, OP has signed a partnership agreement with ZAO Raiffeisenbank, Raiffeisen is the leading private bank in Central and Eastern Europe, offering comprehensive local services and extensive local expertise. In addition, OP Corporate Bank runs its own representative office in St. Petersburg to support the business and risk management of OP's customers in Russia.
In India, our partner bank is ICICI Bank which is the second largest bank in India. ICICI is a strong local actor, whose local expertise is available to a Finnish company through OP. Additionally, OP Corporate Bank has a consultant in India to help Finnish companies establishing in the Indian market.
In China, OP has a partnership agreement with the Bank of China, which is the third largest bank in China and the fifth largest listed bank in the world with a balance sheet of over EUR 1000 billion. Bank of China has approximately 10 000 outlets in the country.
OP is a part of the Unico Banking Group, formed by banks with a cooperative background to promote cooperation between the member banks. The group has over 35 000 outlets and a dense global network of correspondent banks. In addition to multilateral cooperation, OP has signed bilateral cooperation agreements with two Unico banks, the French Crédit Agricole and the Austrian RZB.
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