Brasília – Brazilian banks Bradesco and Bank of Brazil have kicked off negotiations to consolidate operations of Portuguese institution Banco do Espírito Santo in Africa. A holding company will be established to "coordinate future investment involving the purchase of stakes in banks, as well as the establishment of the bank’s own operations in the African continent," according to a statement issued by the institutions.
"The three financial institutions involved believe that the partnership may represent an important means of support to the Brazilian and Portuguese companies’ internationalization process, and an aid to the growing commercial exchange with the African continent," informs the statement.
Headquartered in Lisbon, Banco do Espírito Santo is the second largest private commercial institution in Portugal, and is present in 18 countries across four continents.
Today (9th), another communiqué was issued announcing a partnership between the Bank of Brazil, Bradesco and Caixa (the federal savings bank). The banks want to launch, in tandem, the Brazilian Elo brand of credit, debit and pre-paid cards for account and non-account holders.
Another possibility to be considered is "developing new businesses for pre-paid cards by either establishing a currency company or incorporating already existing companies which operate in this line of business."
The banks also inform that thay are considering increasing Caixa’s stake in currency company Cielo and making the state-owned institution a part of the shared outdoor ATMs project.
*Translated by Gabriel Pomerancblum
