Wednesday, August 11, 2010

Brazil's state bank, partners push into Africa

Brazil's biggest state-run bank and two other partners announced an expansion in Africa on Monday in the latest sign of growing financial links between emerging markets.

Banco do Brasil, Latin America's largest bank by assets, said in a regulatory filing it will team with local private-sector giant Banco Bradesco and Portugal's Banco Espirito Santo (BES) to tap Africa's growing appetite for consumer loans, credit cards and other products.
"The African continent is the future," Finance Minister Guido Mantega said. read more...

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