| The Wholesale unit also underwent structural changes in 2004, to serve a group
of some 2,000 companies with more than R$150 million in annual sales. In August
the middle-market companies, defined as those with annual sales between R$40 million
and R$150 million, were moved to the Retail unit.
In the third-quarter the Wholesale unit developed a new strategy to provide
region-by-region service to large companies, pulling ahead priorities such as
client access and proximity and offering a range of services to meet all their
financing needs. New products have been developed, especially in the financial
derivatives segment. These new products complete the existing ones, such as
working capital lending, trade finance, corporate finance and advisory services, in an even more diversified offer to clients.
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