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704_LegalGuideForForeignInvestorsInBrazil

704_LegalGuideForForeignInvestorsInBrazil

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Published by Claudia Ruic

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Published by: Claudia Ruic on Feb 10, 2012
Copyright:Attribution Non-commercial

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10/29/2014

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There are in Brazil several commercial banks and fnancial institutions controlled
by the Federal and State Governments, the primary purpose of which is to foster
economic development, especially in the agriculture and industry sectors. In
addition to performing commercial banking activities, state banks perform the

Legal Guide for Foreign Investors in Brazil

144

Legal Guide for Foreign Investors in Brazil

role of independent regional development agencies.

Among the banks controlled by the Brazilian Federal Government are Banco
do Brasil and BNDES (the Federal Government main agent for investment
policies) and other public sector development, commercial, and multiple-service
banks. Banco do Brasil provides a full range of banking products to both public
and private sector customers, and is Brazil’s largest commercial bank. BNDES
is primarily engaged in provision of medium and long-term fnancing (either
directly or through other public and private sector fnancial institutions) to the
private sector, mainly for pursuit of industrial activities. Other federal public-
sector development, commercial and multiple-service banks include Banco da
Amazônia and Banco do Nordeste do Brasil S.A., in addition to certain commercial
and multiple-service banks controlled by various State Governments.

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