BB reportedly interested in taking stake in Portugal's Banif

- Thursday, August 11, 2011

BB reportedly interested in taking stake in Portugal's Banif

Federally controlled banking giant Banco do Brasil (BB) is interested in buying a stake in Portugal's seventh biggest bank, Banif, Portuguese business publication Diário Económico reported.

Banif said last month that it was searching for a foreign partner.

Spain's largest banks, Santander (NYSE: STD) and BBVA (NYSE: BBVA), are also interested in purchasing a stake in Banif, as well as Barclays (NYSE: JYN) from the UK and BIC Angola, the Diário Económico quoted sources familiar with the matter as saying.

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BB is Brazil's largest bank. Recently, it began an ambitious international expansion on several continents.