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BANCO DO BRASIL BUY FROM U.S. BANK

Us banks list / Monday, August 09, 2010

The Banco do Brasil, the largest in the country, today confirmed its strategy of entering the U.S. market and gain a financial institution in the country.

"We are firm in the internationalization process" that gives priority to gain ground in the United States and Latin America, said Benedín Aldemir, head of Banco do Brasil.

In this regard, the executive said he was hired an investment bank to identify business opportunities and what the financial institution to be acquired in the U.S., Agencia Estado reported.

The Banco do Brasil, state with open capital, acquired last year by Banco Patagonia, Argentina, in the first transaction recorded in its policy of internationalization.

Also the National Bank of Economic and Social Development (BNDES), state, seeking to penetrate the global market, for which opened offices in Britain and Uruguay.

Meanwhile, the Banco do Brasil today announced that will invest in Africa in partnership with Bradesco bank and the Holy Spirit, private.

Aldemir, bendin said Bradesco already have experience in Africa, where he grew up in the last years the presence of construction companies, energy and agriculture in Brazil.

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