As mentioned in this blog on November, 10th, Brazil’s banking system is bracing itself for a wave of consolidation. The last announcement came yesterday as Banco do Brasil, the country’s top state-controlled bank announced it will spend US$2.3 billion to buy a 71.3 percent share in Banco Nossa Caixa SA, owned by the Sao Paulo [...]
Posts Tagged ‘financial markets’
New massive banking merger in Brazil, this time on state-controlled banks
Posted in Banks, Brazil's Economy, tagged assets, Banco do Brasil, banking, Bradesco, Brazil, Brazil's Economy, consolidation, financial markets, global player, Itau, joint-venture, merger, New York Times, Nossa Caixa, public bank, Unibanco on November 21, 2008 | Leave a Comment »
Brazil’s top banks report large profits
Posted in Brazil's Economy, tagged Bradesco, Brazil, Brazil's banks, Brazil's Economy, Brazilian real, crisis, financial markets, Itau, meltdown, private sector banks, profits, strong, turmoil on October 27, 2008 | Leave a Comment »
Fresh news from Reuters reveal that the Brazilian banks are in extremely good shape, thank you very much… Brazil’s two largest private-sector banks reported strong third-quarter earnings on Monday and said they would continue to take advantage of the current market turmoil to snap up loan portfolios from smaller rivals in distress. Banco Bradesco (BBDC4.SA: [...]
DFG Monitor: Brazil’s economy is resilient to the global financial crisis
Posted in Brazil's Economy, tagged Brazil's Economy, Brazilian banks, Brookings Institution, credit contraction, credit crunch, crisis, defense equipment, downturn, financial markets, Mauricio Cárdenas, petrochemicals, re-industrialization strategy, resilient, RGE Monitor, solid economy, steel on October 22, 2008 | Leave a Comment »
“There are good reasons (…) to believe that Brazil’s economy is resilient to the global financial crisis”. This was the conclusion of Mauricio Cárdenas, Senior Fellow and Director of the Latin America Initiative at Brookings Institution, in an articled published on RGE Monitor. Holding a Ph.D. in economics from the University of California, the analyst [...]
