Banco do Brasil Flexes Muscle
Latin America’s biggest bank, Banco do Brasil, is riding high with new lines of international and capital markets business. However, elections may be a spanner in the works.
by John Rumsey
Talk about Brazilian banks to investors, bankers and the
banking industry and the defining theme is credit. The business
is growing rapidly, with outstanding credit in Brazil at 1.53
trillion reais in June, up 2.0% in a month and 19.7%
in a year, according to data from the Central Bank of
Market leader Banco do Brasil (BdB) expects the total market
for credit to hit 2.0 trillion reais by December, an
increase of 17.7% in just one year. There is plenty of scope
for growth. At 45% of GDP, credit in Brazil lags behind other
developing nations, Ivan Monteiro, BdBs CFO tells
LatinFinance. Chile has a credit-to-GDP ratio of over
If credit is the banking battlefield, BdB has been a
phenomenally successful army. According to Monteiro, the bank
has lifted its market share to 20%, from around...
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