The Central Bank (BC) maintained the estimative of economic growth – Gross National Product (GNP) – this year in 3.5%. The information is part of the Inflation Report released this week by the Central Bank.
According to the institution, the Brazilian economic activity has showed a moderate decrease in 2012, due to the effects of the [...]

Brazil, Russia, India, China and South Africa will join efforts to have a specific development bank for the group of BRICS – formed by five countries. A working group formed by technicians from five nations will conduct the studies to organize and put together the financial institution.  However, before consolidation, the group will internally negotiate [...]

The Brazilian Development Bank (BNDES) has approved funding for the construction of 26 wind farms, all in the State of Rio Grande do Norte, totaling R$ 1.8 billion, directed to four distinct projects. The enterprise will total an installed capacity of 628.8 megawatts and will demand total investments of R$ 2.6 billion.
With such new financing, [...]

NCR Corporation and Scopus Tecnologia Ltda, a wholly-owned subsidiary of Banco Bradesco SA, announced Friday the formation of a strategic alliance for the manufacturing and development of ATMs in Brazil that will see Scopus acquire a 49 percent equity stake in NCR Manaus, NCR’s Brazilian manufacturing and engineering operations.
Concurrently, Banco Bradesco signed an agreement with [...]

Banco Bradesco S.A. (Bradesco) acquired shareholding control of Banco do Estado do Rio de Janeiro S.A. (BERJ) from the Government of the State of Rio de Janeiro. The investment involved the purchase of 96.99% of common shares and 95.21% of preferred shares, representing 96.23% of BERJ’s capital stock, for a total of R$1.025 billion.
With the [...]

MasterCard and Rev Worldwide launched Brazil’s first prepaid card for everyday purchases with Banco PanAmericano. The prepaid card services will be available throughout all participating PanAmericano stores in Brazil.
The PanAmericano MasterCard Prepaid Card is the only general purpose reloadable prepaid card available in Brazil today and does not limit the card’s use to specific transactions [...]

FIMBank, the Malta-based Trade Finance Bank, has reached an agreement with the International Finance Corporation (IFC), a member of the World Bank Group, and Brazilian bank BICBANCO, to invest in a new factoring joint venture in Brazil.
FIMBank and BICBANCO will each acquire a 40 per cent stake in this company while the IFC will acquire [...]

Bloomberg reported that Banco Santander Brasil SA is planning to increase its headcount of 122 private bankers by upwards of 20 per cent this year as Brazil’s economic growth fuels demand for wealth management services. In an interview with Bloomberg, Maria Eugenia Lopez, head of Santander Brasil’s private-banking unit, said the positive economic moment Brazil [...]

Brazil’s leading investment bank, BTG Pactual, is to pay R$450 million for the acquisition of 100% of the shares in Banco PanAmericano S.A. The acquisition will give BTG Pactual a 37.64% stake in PanAmericano, 51% of the voting shares and 21.97% of the non-voting shares. PanAmericano is held by Grupo Silvio Santos.
Currently, Grupo BTG Pactual [...]

Brazil’s biggest investment bank BTG Pactual is to sell a $1.8 billion stake to a group of investors including the Rothschild and Agnelli families as well as Middle East and Asia funds. Italian investment holding Exor SpA, controlled by the Agnelli family, is participating in the group of international consortium that would acquire 18.65 per [...]