Bank of Brazil

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Bank of Brazil


(Banco do Brasil), the largest commercial bank in Brazil. Prior to the organization of the Central Bank of Brazil (1965), this bank performed some of the functions of the nation’s central bank. A majority of the stock belongs to the government.

The Bank of Brazil was established in 1808 with the right to issue bank notes and functioned up until 1829. It was reestablished in 1851 and in 1853–54 underwent a fundamental reorganization. Since the proclamation of the republic (1889), the Bank of Brazil has played a leading role in the nation’s credit system. Special organs of the bank have supervised the credit and currency system of Brazil. During certain periods the bank has been entrusted with the issuing of import and export licenses. The Bank of Brazil had the right to issue bank notes until 1946; according to the Constitution of 1946, this right was given exclusively to the national treasury. The chairmen, directors, and certain other officials of the bank are appointed by the president of the republic. In 1968 the Bank of Brazil had 645 branches in Brazil and subsidiaries in Argentina, Bolivia, Paraguay, Uruguay, and Chile. Its stock capital at the beginning of 1968 was 60 billion cruzeiros, reserve capital was 496 billion cruzeiros, deposits were 11.9 trillion cruzeiros, and credits extended to the national economy were 14.9 trillion cruzeiros.


References in periodicals archive ?
Ja nos casos da Caixa Economica Federal, que detem 211 agencias bancarias no Parana, e do Banco do Brasil, com 326 agencias, esses se enquadram na categoria de bancos publicos controlados federalmente e/ou de economia mista.
Banco do Brasil executives have said the bank was pursuing acquisitions in Florida and New Jersey, which, together with Massachusetts, are among the states where the lender aims to grow given the large Brazilian and Latino communities there.
Country: USASector: Banking/Financial ServicesTarget: City National Bank of Florida Inc, unnamed bank in New JerseyBuyer: Banco do Brasil SA Vendor: Bankia SAType: Corporate acquisitionStatus: Bidding, Speculation
A evolucao da automacao bancaria sempre foi acompanhada pela evolucao tecnologica e o instante marcante que da impulso a esse processo evolutivo ocorreu em meados da decada de 1960, quando os bancos brasileiros comecaram a instalar os primeiros grandes computadores (mainframes) e os maiores bancos dessa epoca eram o Bradesco e o Banco do Brasil, seguidos de perto pelo Banco Itau.
Banco do Brasil"), Brasilia, and Caixa de Previdencia dos Funcionarios do Banco do Brasil ("Previ"), Rio de Janiero, both of Brazil (together, "Applicants"), have requested the Board's approval under section 3 of the Bank Holding Company Act of 1956, as amended ("BHC Act"), (1) to acquire EuroBank, Coral Gables, Florida ("EuroBank").
Ao inves das privatizacoes convencionais realizadas anteriormente, o governo Lula incorporou ao Banco do Brasil dois bancos estaduais sucateados pelos governos estaduais de Sao Paulo e Santa Catarina (a Nossa Caixa e o BESC, respectivamente).
Banco do Brasil mandated its unit Banco do Brasil Securities as well as HSBC (LON:HSBA) and Standard Chartered Bank book-runners of the issue.
Brazil's government-controlled Banco do Brasil SA (OTC: BDORY) (BBAS3.
Mientras los privados optaron por la cautela, siguiendo la receta tradicional para tiempos de incertidumbre, Banco do Brasil desempeno una funcion de vanguardia, en linea con las politicas publicas de su controlador, la federacion brasilena.
Banco do Brasil SA (RIO: BBAS3) (SOP: BBAS3), Brazil's largest state-owned bank, has announced that it will pay USD1.
This tremendous access to banking information on-demand is just one of the many innovations in service that Banco do Brasil offers its customers, according to Edson Machado Monteiro, vice president of the department of Distribution & Retail of Banco do Brasil.

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