BB expects to more than double mortgage book this year

Wednesday, March 23, 2011

Federally controlled Brazilian banking giant Banco do Brasil (BB) expects its mortgage loan portfolio to reach 7bn reais (US$4.22bn) at year-end, more than doubling 2010's figure, a press release from the bank reads.

In addition, BB aims to climb the country's mortgage loan rankings to become one of the top three banks in three years, from its current fifth place, said BB's VP of new businesses, Paulo Rogério Caffarelli.

BB is Brazil's largest bank in terms overall market share.

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