April 22, 2018 5:48 AM ET


Company Overview of Banco do Brasil S.A.

Company Overview

Banco do Brasil S.A. provides banking products and services for individuals, companies, and public sectors in Brazil and internationally. The company’s Banking segment offers various products and services, including deposits, loans, and services to retail, wholesale, and public sector markets, as well as to micro-entrepreneurs and the low income population. Its Investments segment engages in the intermediation and distribution of debts in the primary and secondary markets; equity investment activities; and rendering of financial services. The company’s Fund Management segment is involved in the purchase, sale, and custody of securities, as well as the management of portfolios, and investment...

Setor de Autarquias Norte

Quadra 5, Lote B

Edificio Banco do Brasil

Brasilia, DF 


Founded in 1808

99,161 Employees

Key Executives for Banco do Brasil S.A.

Banco do Brasil S.A. does not have any Key Executives recorded.

Banco do Brasil S.A. Key Developments

Banco do Brasil S.A. Announces the Final Tender Results of the Tender Offers for Certain of Perpetual Notes

Banco do Brasil S.A., acting through its Grand Cayman branch, a bank structured as a corporation (sociedade anônima) and a state owned company (sociedade de economia mista) under the laws of the Federative Republic of Brazil (the "Bank") announced the final tender results of its offers to purchase for cash up to USD 600,000,000 aggregate principal amount of Banco do Brasil's outstanding 8.500% Perpetual Notes and up to USD 100,000,000 aggregate principal amount of Banco do Brasil's outstanding 9.250% Perpetual Notes, upon the terms and subject to the conditions described in the Offer to Purchase dated March 19, 2018 and the accompanying Letter of Transmittal dated March 19, 2018. The Settlement Date (as defined in the Offer to Purchase) with respect to the Notes validly tendered on or prior to the Early Tender Date and accepted for purchase by the Bank occurred on April 6, 2018 (the "Early Settlement Date"). On the Early Settlement Date, the Bank accepted for purchase the following aggregate principal amount of Notes tendered prior to the Early Tender Date: USD 599,988,000 in principal amount of 8.500% Notes (after proration) and USD 100,000,000 in principal amount of 9.250% Notes (after proration). The Bank hereby announced that as of April 16, 2018, at 11:59 p.m. New York City time (which was the Expiration Date), it had elected not to increase the Tender Caps (as provided in the Offer Documents). As the applicable Tender Caps with respect to the 8.500% Notes and the 9.250% Notes were reached upon settlement on the Early Settlement Date, no tendered 8.500% Notes and 9.250% Notes shall be accepted for purchase on the Final Settlement Date (as defined in the Offer to Purchase). Any Notes tendered pursuant to the Tender Offer but not accepted for purchase by the Bank on the Early Settlement Date will be promptly returned to Holders.

Presidential Candidate Silva Opposes Major Privatization of Petrobras, Banco do Brasil, Caixa Econômica Federal and Eletrobras

Brazilian Presidential Candidate Marina Silva opposed the government’s plan to privatize Centrais Elétricas Brasileiras S.A. - Eletrobras (BOVESPA:ELET6), Banco do Brasil S.A. (BOVESPA:BBAS3), Petrobras Distribuidora S.A. (BOVESPA:BRDT3) and Caixa Econômica Federal.

Banco do Brasil S.A. Announces Earnings Results for the Fourth Quarter and Full Year of 2017; Provides Earnings Guidance for the Year 2018

Banco do Brasil S.A. announced earnings results for the fourth quarter and full year of 2017. For the quarter, the adjusted net income was BRL 3.2 billion, an 82.5% increase compared with the BRL 1.7 billion in the 2016 fourth quarter and the highest quarterly performance since 2012. This growth was driven by business expansion, controlling administrative costs and, mainly, by reducing expenses with loan losses provisions due to the improvement of the portfolio´s quality. Fee income reached BRL 6.7 billion. For the full year, adjusted net income grew 54.2% over 2016, driven by the 9% growth in fee income; the strict cost control that resulted in a reduction of 3.1% in [mainly administrative] expenses; the improvement in credit quality, which result in a decrease of 25.5% in [credit provision] expenses. The BRL 11 billion in adjusted net income shown in 2017 represents a 54.2% growth over 2016. The return on equity was 13.6%. NII for 2017 reached BRL 57.9 billion. The net [financial] margin, which comes up to a deduction of BRL 25.3 billion of allowance for loan losses and expenses reached BRL 32.6 billion, the highest value in recent years. The fee income reached almost BRL 26 billion, overcoming the ALL expenses, that occurred for the first time since 2015. Adjusted earnings per share increased from BRL 2.57 in 2016 to BRL 3.97 in 2017. The adjusted return on equity (ROAE) was 12.3% in 2017. For 2018, the company expects adjusted net income is between BRL 11.5 billion and BRL 14 billion. NII, net of recovery, minus 5% to 0%. ALL expenses, net of recovery, the company expects to be in the range of BRL 16 billion to BRL 19 billion. Fee income growing below inflation -- fee income growing above inflation from 4% to 7%. And finally, administrative expenses below inflation, the company estimates an increase between 1% to 4% in 2018.

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