Commercial Banks
Company Overview of Banco do Brasil S.A.
Company Overview
Setor Bancário Sul
Quadra 1
Lote 32, Bloco C
Edifício Sede III
Brasilia, DF
Brazil
Founded in 1808
114,182 Employees
Key Executives for Banco do Brasil S.A.
Banco do Brasil S.A. does not have any Key Executives recorded.
Banco do Brasil S.A. Key Developments
Banco do Brasil S.A. announced earnings results for the first quarter ended March 2013. For the quarter, adjusted net income was BRL 2.7 billion. The Previ item, at its lowest historical contribution to operating revenues, at 1.2% of total operating revenues and BRL 187 million on the first quarter of 2013. NII traditionally represents roughly 7% of the company's operating revenues.
Banco do Brasil S.A. (BOVESPA:BBAS3) plans to make acquisitions in other countries in Latin America and U.S. Banco do Brasil’s Vice President for Finance, Ivan Monteiro said: "We are always looking at overseas possibilities [for acquisitions]. The Latin America market and the U.S. market are priorities within our strategy and we are always examining possibilities in these two markets."
Banco do Brasil S.A. (BOVESPA:BBAS3) has reached the final stages of negotiations to acquire City National Bank of Florida Inc. "Banco do Brasil is taking the final steps to acquire City National, and the conclusion of the transaction is expected later this month," a banker involved in the negotiations said in an interview. "The value of the acquisition could be close to $900 million." The banker did not wish to be named. Banco do Brasil was willing to pay only $750 million initially, according to previous reports. However, due to competition with other banks, Banco do Brasil has increased its offer, the banker said. The executive declined to name other banks in the dispute. "A top Banco do Brasil executive is in the U.S now to arrange final details of the deal," said the banker. Banco do Brasil Vice President for Finance, Ivan Monteiro, declined to comment directly on talks regarding City National. He added, "In the U.S., we want to meet the needs of Brazilians living there and Brazilian companies with operations there." Bankia, SA. (CATS:BKIA) has put City National Bank up for sale in 2012.
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To contact Banco do Brasil S.A., please visit www.bb.com.br. Company data is provided by Capital IQ. Please use this form to report any data issues.
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