Banco do Brasil
| Banco do Brasil SA | |
|---|---|
|
|
| Country |
 Brazil
|
| Seat |
Brasília Brazil
|
| legal form |
Sociedade Anônima Public Company (Brazil) |
| ISIN | BRBBASACNOR3 |
| BIC | BRASBRRJXXX |
| founding | October 12, 1808 ( Rio de Janeiro ) |
| Website | www.bb.com.br |
| Business data 2014 | |
| Total assets | US $ 68.81 billion (Dec. 31, 2014) |
| Employee | 111,628 (Dec. 31, 2014) |
| management | |
| Board | Alexandre Abreu (Chairman) |
Banco do Brasil SA is the largest and oldest bank in Brazil and, in terms of total assets, the largest financial institution in South America . The state bank is headquartered in Brasília .
The bank is one of the most profitable credit institutions in the world and, according to financial services provider Economatica, was one of the five most profitable in North and South America. The largest source of income are loans to the state. The bank earns well due to a large difference between deposit and loan rates. In 2013 alone, the profit was R $ 10 billion .
history
A bank of the same name was founded on October 12, 1808 by the Portuguese King John VI. founded and was supposed to finance the exile of the court. The foundation was to be financed by issuing shares, but the subscription of the 1,200 shares dragged on for a long time due to a lack of interest, in 1812 just 126 shares were placed. Not until 1817 were all shares subscribed. When the king returned to Portugal in 1821, he emptied the bank's accounts and the bank was bankrupt for the first time.
The bank was dissolved in 1833, but the restoration was decided on October 8th. On August 21, 1851, Irineu Evangelista de Souza founded a new bank in Rio de Janeiro called Banco do Brasil . In 1853 this merged with the commercial bank of Rio de Janeiro, which meant an increase in the bank's capital to 30,000 reals . In 1986 the bank gave up its function as central bank to the Brazilian central bank . In 2005, contrary to the national trend, it increased the number of its employees by 5,000 to 95,000, partly to give former politicians a job. Today the bank has around 4,000 branches (2006).
In 2008 the Brazilian bank Banco Nossa Caixa was taken over.
Relations with the Government
The bank is used heavily by the political leadership for the respective political goals. Usually, the Brazilian President chooses the Chairman of the Board from a list of candidates. The bank has the monopoly on granting some support programs such as Ciência Sem Fronteiras , Pronaf (National Agricultural Program ), DRS , Fome Zero and Pasep and is the house bank of most of the administrative bodies.
Web links
Footnotes
- ↑ Entry in the BIC directory at SWIFT
- ↑ bb.com.br (PDF) Financial Statements, 2014 Results
- ↑ handelsblatt.com
- ↑ economia.uol.com.br
- ↑ bb.com.br
- ↑ a b Alexander Busch: Hand in hand with the state. In: Handelsblatt Finanzzeitung. May 9, 2006, p. 38.
Coordinates: 15 ° 47 ′ 52 ″ S , 47 ° 52 ′ 58 ″ W.