Bank of Brazil Leads BNDES Fund Transfers for Exports & Micro Companies

    BNDES

    BNDESWith a market share of over one fifth (21.1%), the Bank of Brazil (Banco do Brasil) was the leader in transfers of funds of the Brazilian Development Bank (BNDES) in 2009.

    A total of 131,400 operations were carried out, totaling 12.3 billion Brazilian reais (US$ 6.6 billion) in loans. The volume was 36.6% higher than in the previous year.

    The information was given by the vice president of Credit, Controllership and Global Risk at the Bank of Brazil, Ricardo Flores. He claimed that the highlight were foreign trade operations (BNDES Exim), which totaled 3 billion reais (US$ 1.6 billion), equivalent to 26.5% of the lines of credit of the type that are available on the market.

    With the BNDES card, a product that focuses on credit for investment by micro and small businesses, the Bank of Brazil carried out 109,700 operations during the period, having accounted for 59.5% of total loans, and thus maintained its leadership in the segment.

    The peak of credit for legal entities was reached in September, when the portfolio totaled 117 billion reais (US$ 63 million), representing growth of 37.1% over 12 months.

    According to the president of the Bank of Brazil, “the incentive of the Program for Sustaining Investment [of the Brazilian Development Bank] were crucial for companies to be able to proceed with their investment projects. We made use of the moment to continue supporting the productive sector, so as to simplify processes and guarantee access to credit.”

    ABr

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