BNP Paribas unit aims to capitalize on vibrant local market

- Thursday, December 1, 2011

BNP Paribas unit aims to capitalize on vibrant local market

BNP Paribas Securities Services is aiming to capitalize on the anticipated increase in foreign investments in Brazil, as well as local companies investing overseas, the securities firm's regional head for Spain, Portugal and Latin America, Álvaro Camuñas, told BNamericas.

Camuñas said that with interest rates in the country forecast to continue falling, local firms were expected to become more active in investing in both local equity and foreign assets. The Brazilian central bank BCB cut its benchmark interest rate by 50 basis points to 11% on Wednesday (Nov 30).

The expected growth of the Brazilian equity market should also make it more attractive for foreign investors, leading to a substantial increase in overall investment in the country in the coming years, the executive said.

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Camuñas also said that further expansion by BNP Paribas Securities Services in Latin American countries such as Colombia and Chile were possibilities for the future. The company is a unit of French banking giant BNP Paribas.

The full interview with Camuñas will be published in this week's Banking Perspectives, for subscribers only.