Itau to finance Itautec sales to small, mid sized cos.
Bnamericas Published: Wednesday, September 10, 2003
Brazilian bank Itau will finance sales by its sister company, technology manufacturer Itautec, to small and mid-sized enterprises (SMEs), Itau said in a statement. SMEs will be able to finance purchases of Itautec's hardware, software and services in 24 or 36 installments, according to the statement. Itau said a report published in August by Brazil's SME service Sebrae showed that 53% of SMEs in Sao Paulo state do not have personal computers. Itautec is part of Itautec Philco, which is in turn controlled by Brazilian holding company Itaúsa, which also controls the banking group Itau.
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