Bradesco to increase capital by US$150mn, re-elects chairman, vice chairman

- Friday, March 11, 2011

Bradesco to increase capital by US$150mn, re-elects chairman, vice chairman

Brazil's biggest private bank and largest insurance group, Bradesco (NYSE: BBD) will increase its capital stock by 250mn reais (US$150mn) and it has re-elected Lázaro de Mello Brandão as chairman and Antônio Bornia as vice chairman.

The capital increase will be made through a mix of the subscription of new common and preferred shares, and the capitalization of capital and profit reserves, Bradesco said in a statement.

The increase will lift the bank's capital stock to 30.1bn reias.

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