Panamericano Slams Brazil Mid-Cap Banks
Nov 11, 2010
Bonds and shares of Brazil’s Banco Panamericano fell in the day following the announcement of a BRL2.5bn injection from its controlling shareholder to cover losses coming from accounting irregularities and of the replacement of management. The wider implications for the Brazilian mid-sized banking sector, though, still remained to be seen. Panamericano shares dropped 30%...
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