Bloomberg News

Brazil BNDES Lending Falls 26% to 104 Billion Reais Through Oct.

December 20, 2011

Dec. 20 (Bloomberg) -- Brazil’s state-controlled development bank, known as BNDES, said lending fell to 104.2 billion reais from January to October, a 26 percent drop from a year earlier.

BNDES said today in an e-mailed statement that excluding its role in the capitalization of Petroleo Brasileiro SA last year, lending levels fell 10 percent.

To contact the reporter on this story: Katerina Petroff in Sao Paulo at kpetroff@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net


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