Bloomberg News

Banco do Brasil May Boost Loans 20% in 2012, Bendine Tells Globo

June 24, 2012

Banco do Brasil SA sees lending expanding almost 20 percent this year after the bank cut interest rates it charges to customers, Chief Executive Officer Aldemir Bendine told O Globo.

Banco do Brasil is in talks with the Ermirio de Moraes family to invest in Banco Votorantim after higher bad-loan provisions by the lender, the Rio de Janeiro-based newspaper said, citing Bendine. He declined to say how much the bank will invest in Votorantim.

The Ermirio de Moraes family and Banco do Brasil share control of Votorantim, with about 50 percent each.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net.

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net.


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