BB expects strong export, payroll loan growth this year
Bnamericas Published: Thursday, May 05, 2005
Brazilian federal bank Banco do Brasil (BB) expects strong growth in its export and payroll loan operations this year, local press quoted BB's chair Rossano Maranhão as saying. Maranhão said that BB would easily top last year's 9.2bn reais (US$3.74bn) in export lending by issuing 11bn to 13bn in export loans this year. The chair also revised BB's earlier payroll loan estimate to an annual 3.5bn reais, from 3bn reais. At end of 2004 the bank had a payroll loan portfolio worth 1.47bn reais. BB is the largest bank in Brazil in terms of overall market share.
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