Brazil’s BNDES will let go of its stake in the oil company as part of a divestments program designed to reallocate resources to more socially impactful projects.
Browsing: brazilian development bank
The bank saw USD 646 million in net profit in Q3, up 70% from Q3 2018. Year-to-date through September, net profit climbed 159% to USD 3.95 billion.
The BNDES’s pilot project will allocate BRL 10 million (USD 2.64 million) to support innovation companies.
Brazil’s BNDES saw BRL 2.06 billion in net profit from January to March. Numbers were driven by a reversal of expenditure on credit risk provisions and by equity holding results.
Loans made by Brazil’s state-run BNDES amounted to slightly over USD 5.5 billion in Q1, but approvals were up 11%.
