• Categories
  • Archives

State Banks in Brazil Reap Record Profits

Two federally-controlled banks, the Caixa Econômica Federal (basically a savings and mortgage institution) and the Banco do Brasil, have announced record operational profits in 2005.

Banco do Brasil’s 2005 profits were 4.2 billion reais (US$ 2 billion), up 37.4% over 2004. And the Caixa had record profits in 2005 of 2.07 billion reais, (US$ 970 million) up 46% over 2004.

Spokespersons for both banks emphasized that in 2005 their results reflected the conciliation of commercial objectives with social functions.

In a note, the Caixa said it had growth in commercial loans, where 95% of its loans went to small businesses, and investment funds. Meanwhile, the Caixa’s strongest social function area remains in home loans, which rose 41% in 2005.

The president of the Banco do Brasil, Rossano Maranhão, said the institution’s profits showed it was possible for a market bank to make investments in sectors such as family farming.

Banco do Brasil’s loan portfolio reached 101.8 billion reais, consolidating its leadership in the loan sector (15.3% of the sector). Meanwhile, the institution’s loans to the agricultural sector rose 19% in 2005, going to both agribusiness and family farms.

Agência Brasil

Tags:

  • Show Comments (2)

  • Guest

    down 4 %
    for Banco do Brasil !

  • Guest

    but hidden numbers to the public…..
    that 4th quarter earnings went DOWN 4 % !

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Leprosy Still a Plague in Brazil

Brazil is second, after India, for the total number of cases of leprosy in ...

Embraer Brings 4% of Brazil’s Trade Surplus

The Brazilian Aircraft Corporation S.A. (Embraer), Brazil’s largest exporter of manufactured goods, closed the ...

Brazil’s Residential Developer Gafisa Gets US$ 50 Million US Infusion

Equity International, the privately-held international real estate investment company of Sam Zell’s Equity Group ...

Drought in the South of Brazil Leaves 52 Cities Without Water

So far, 397 municipalities in the state of Rio Grande do Sul, in southern ...

Brazilian Restaurateur in San Francisco Can Get 5 Years for Hiring Illegals

Glenio Silva, the owner of two northern California Bay Area pizza restaurants, has been ...

Brazil Forecast: Less Grain, More Meat

 In its eighth estimate of the 2004 agricultural harvest in Brazil, the Brazilian Institute ...

World Crisis Putting the Brakes on Brazil: Growth Forecast Down

C:\bzz\brazzil\brazzilmag.com\images\stories\2011\aug11\ The Finance minister of Brazil, Guido Mantega, admitted before the Senate that the ...

Brasília Is Orphan

"I am neither a capitalist nor a socialist, I am not a religious or ...

Tragedy: 4 Deaths and 4 Months Later Brazilian Indians Still Living by the Highway

The president of Brazil’s National Indian Foundation (FUNAI), Mércio Pereira Gomes, classified the situation ...

Gearing up for Elections in Brazil

The October elections in Brazil will be the first real test of President Luiz ...