Bloomberg News

Banco do Brasil Looks at Acquisitions in Chile, Peru, Valor Says

July 09, 2012

Banco do Brasil SA (BBAS3) is looking for acquisitions in Colombia, Peru, Uruguay and Chile as it seeks to expand its retail banking outside Brazil, newspaper Valor Economico reported, citing international business head Paulo Caffarelli.

Banco do Brasil is already in talks to buy banks in the four South American countries, Caffarelli said, according to the Sao Paulo-based newspaper. The bank also plans to expand its U.S. operations to 20 agencies nationwide from the current three, Caffarelli told Valor.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net


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