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Latin American Economy & Business - November 2013 (ISSN 1741-7430)
Brazil’s banks: Banco do Brasil and Caixa Econômica Federal: reloading the credit cannon
Very strong growth in lending by the state-owned Banco do Brasil (BB) and Caixa Econômica Federal (CEF) underpinned overall economic activity in the 12 months to the end of June this year. Since then, the growth in lending by both of the main public sector banks has slowed. However, much of the newsflow in recent weeks suggests that the government is taking steps so that BB can reinforce its balance sheet: this should allow the bank to accelerate lending growth over the medium term. In essence, the 'credit cannon' is being reloaded.
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