The content has been shared, if you want to share this content with other users click here.
Banese, the bank controlled by the government of Brazilian state Sergipe, has issued a statement denying that it has a proposal pending that would increase its capital via a public offer.
The bank is seeking to counter a report from daily Brasil Econômico that quotes a top executive as saying the bank was studying the plan in order to increase its operations in the northeast of the country.
The statement said that such a proposal has not been reviewed by its board or the state government.
Federally controlled Caixa Econômica Federal (CEF) and Instituto Palmas, a community group in the city of Fortaleza in the state of Ceará, have signed an agreement to jointly provide microcredit to nearly 25,000 people.
CEF, which focuses on mortgage credit, is pursuing the project as part of its social and regional goals to reduce inequality, a statement from the bank said.
CEF also made news this week, with finance VP Márcio Percival being quoted by Agência Estado as saying the bank would be seeking at least 4bn reais (US$2.4bn) in damages from KPMG and Banco Fator for their roles as advisers on CEF's deal to buy a close to 36.6% overall stake in now troubled bank PanAmericano.
PanAmericano announced that it had secured a 2.5bn-real facility from deposit insurance fund FGC in November after faulty accounting was revealed on its loan book sales to other banks. BTG Pactual has since come in to buy a 37.6% overall stake in the bank, but CEF will likely still inject 8bn-10bn reais into PanAmericano.
Grameen Bank has announced its entry into Brazil, after two years of review, according to Valor Econômico.
The bank is working with law firm Mattos Filho.