Banco do Brasil Earns More Than Brazil’s Largest Private Bank

Brazilian state-controlled Banco do Brasil had revenues of US$ 1.8 billion in the first half of 2006, with growth of 96.5% when compared to the US$ 925 million in the same period of last year, and 78.8% over the profit in the previous half.

The result is even greater than that reached by Bradesco, the largest Brazilian private bank, which was US$ 1.4 billion.

The figures were disclosed today (14) by the board of the bank, and correspond to average annual return on assets of 47.8%, causing the bank to pay US$ 2.18 per share, almost double the US$ 1.15 paid in the first half of 2005.

In the half, the Bank of Brazil turned US$ 740 million of its income to shareholders, of which US$ 399 million as dividends and US$ 320 million in interest on own capital.

Petrobras

Another state-controlled company, Brazilian oil giant Petrobras. had a net profit in the first half of this year of US$ 6.3 billion, an increase of 37% when compared to the same period last year, according to figures disclosed by the company on Friday, August 11.

According to Petrobras, the main factor for growth was the increase in oil and oil product prices in the domestic and foreign market.

Exports

Brazilian exports presented strong growth last week, at US$ 3.15 billion, whereas imports presented a slight reduction to US$ 1.70 billion. The difference resulted in a trade surplus of US$ 1.45 billion.

The balance in nine working days in the month totaled US$ 2.10 billion. The figures were disclosed today, August 14, by Brazil’s Ministry of Development, Industry and Foreign Trade.

In the year, the trade balance surplus has already reached US$ 27.27 billion, presenting an increase of 3.3% when compared to the same period last year. In the period, exports totaled US$ 80.06 billion (+15.2%), against imports of US$ 52.79 billion (+22.4%).

Tags:

Ads

You May Also Like

Argentina’s Leader Is Americas’ Most Popular. Brazil’s Lula Comes in 10th

Argentina's president Nestor Kirchner together with the presidents of Colombia Alvaro Uribe and Mexico's ...

Brazil Thanks Chile for Taking In Political Refugees During the Dictatorship

The inauguration of the new President of Chile, Michelle Bachelet, is a signal of ...

US$ 3 Million in Dental Deals for Brazil

Brazil’s 1st International Business Roundtable at the São Paulo International Dental Meeting (Ciosp), which ...

In Brazil Now Earning US$ 145 a Month Makes You Middle Class. More than US$ 545 and You’re Rich

The Brazilian government has a new definition for the Brazilian middle class. A commission ...

Flower Exports Blooming in Brazil

Brazilian flower and ornamental plant export has generated US$ 18 million between January and ...

Brazil Opts for Regional Development in Program Involving 23 Ministries

Approximately 2.5 million people from the Jequitinhonha and Mucuri river valleys region in Brazil ...

US Lawyers Sue Boeing for Brazil’s Worst Air Tragedy Ever

A Brazilian woman whose husband and son were among the 154 victims who died ...

Brazil Is Spending Less and Finance Minister Is Quite Happy

Between January and November, Brazil’s primary surplus – the savings achieved by the government ...

Brazil’s Central Bank Vows to Keep Inflation Under Control

Brazil's consumer price index unexpectedly slowed down in June, though on an annual basis ...

Downtown Blues

Pátio do Colégio: São Paulo, the third largest city in the world, was born ...