Recife is a major city and port and capital of Pernambuco state in Brazil. It is situated at the confluence of the Capibaribe and Beberibe rivers on the Atlantic Ocean in the north eastern of the country and has a population of around 1.5 million. It is a major import and export centre as well as a retail and wholesale trading centre for the region. Branches of the major banks of Rio de Janeiro, of São Paulo, and of Minas Gerais do considerable business in Recife, and there also are U.S., French, and Italian concerns.