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.
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