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

    Tags:

    • Show Comments (0)

    Your email address will not be published.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

    Brazilian Air Force Officer Ending Training for Space Travel

    A Brazilian air force officer will become his nation’s first person in space when ...

    Street vendors in Rio, Brazil

    Brazil Puts the Brake on Growth to Avoid Inflation

    The Selic, Brazil's reference key interest rate. will only begin to fall when inflation ...

    The Brazil of Lula Has Law Only for Foes, Says Former President Cardoso

    With less than a month to Election Day Brazilian former President Fernando Henrique Cardoso ...

    US, EU and Asia, All Interested in Making Microchips in Brazil

    Industries from European and Asian countries, as well as the United States, are interested ...

    Brazil Reaffirms Commitment to Africa

    Brazilian President Luiz Inácio Lula da Silva repeated his pledge that Brazil will install ...

    Candid chat with writer Rachel de Queiroz

    “I began to write very early. I wrote in secret because I was afraid ...

    Brazil products for export

    In Minas Gerais, Brazil, Exports and Imports Are Down 30% from Last Year

    Minas Gerais, a state in southeastern Brazil saw its exports grow 22.9% in June ...

    Brazilian hairstylist

    Brazil’s Small Businesses Grow for Fifth Month in a Row

    The 1.3 million micro and small companies in the southeastern Brazilian state of São ...

    The Economy of Chaos

    For long considered a patrimony of Brazilian music, Francisco Buarque de Hollanda, better known ...

    World Experts Discuss Alternative Energy in Brazil

    Objective paths for the large-scale application of renewable energy sources is one of the ...