Information from Ernst & Young indicates that the outlook is favorable for the banking sector in the Gulf Cooperation Council countries, which are benefiting from local economic diversification efforts.
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Finance Minister Laaziz Faid announced that starting next year, all public banks will be able to offer credit to the local agribusiness sector. The measure aims to boost productivity.
The Saudi Arabia Social Development Bank received an award at a finance forum in São Paulo for its funding of female entrepreneurship.
Brazil’s Banco do Brasil and Caixa Econômica Federal announced that financing will be made available to businesses whose finances take a hit from the pandemic.
Brazilian financial institutions see the economy growing by 0.82% in 2019, down from last week’s 0.85% estimate.
Financial startups have grown by 50% per year in the last five years. International investors are interested in startups relevant to their home countries. The theme was discussed in the Annual Investment Meeting in Dubai.
Financial market players responding to a Brazilian Central Bank poll expect prices to have gone up 4.43% by the end of this year, up from a 4.40% forecast as of last week.
Financial institutions polled by the Brazilian Central Bank kept unchanged their GDP growth forecast for the Brazilian economy in 2018 and 2019.
The economic expansion estimate from financial institutions polled by the Brazilian Central Bank has moved down for the eighth straight week, this time to 1.55%.
Loans made by Brazil’s state-run BNDES amounted to slightly over USD 5.5 billion in Q1, but approvals were up 11%.
