Top Russian banks to visit Brazil in search of business opportunities

- Tuesday, July 19, 2011

Top Russian banks to visit Brazil in search of business opportunities

Representatives from some of Russia's top banks are traveling to Brazil in August to discuss cooperation and potential business opportunities in the country, an executive from Russian development bank VEB told BNamericas.

In a sign of growing financial ties between the two BRIC countries, Russian bankers are attending the first meeting of a new Brazil-Russia working group on banking cooperation, said VEB vice chairman Sergei Vasiliev.

Interest in Brazil's booming market - Latin America's largest economy - is shown by Russia's second largest bank VTB, top investment bank Troika Dialog and Gazprombank, the financial subsidiary of energy giant Gazprom, Vasiliev said.

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