BTG, Caixa recapitalize Banco Pan

BTG, Caixa recapitalize Banco Pan

BTG Pactual and Caixa Economica Federal agreed a capital injection for Brazilian consumer lender Banco Panamericano over the weekend, saying they would subscribe to at least BRL1.07bn ($479m) worth of new shares from the bank. BTG and Caixa together own all the voting stock and 71.09% of Banco Pan’s total capital. The lender’s board agreed capital increases of up to BRL3bn on June 13, to improve solvency and grow, it said. That will be split equally between new shares and the sale of a hybrid in

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