BB to close EuroBank purchase in January

Monday, December 19, 2011

Brazilian federally controlled Banco do Brasil (BB) expects to close its purchase of Florida-based EuroBank in January next year, BB said in a statement.

The US Federal Reserve board last week approved the deal, which was first announced in April this year as part of BB's strategy to boost its international presence.

EuroBank is based in the city of Coral Gables, with US$83mn in assets and some US$81mn in deposits.

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