Brazilian midsize lender Banco Industrial e Comercial (Bicbanco) specializes in corporate lending for the middle market segment, companies with annual revenues ranging between 50mn and 500mn reais. Founded in 1938 and based in São Paulo, the bank opened a branch in Cayman Islands in 2002 to support its operations in international markets. It also has a 50% interest in Brasilfactors, a joint venture with Malta-based trade finance bank FimBank plc. Brasilfactors provides factoring and forfaiting services for local small and medium-sized companies. Bicbanco is controlled by China's second largest commercial bank, China Construction Bank Corporation (CCB), which acquired a 72% stake from its former controlling group, the Bezerra de Menezes family, in 2013.