Bank of Brazil
 |
|
| Mixed economy enterprise | |
| Traded as |
BM&F Bovespa: BBAS3 OTC Pink: |
| Industry | Financial services |
| Founded |
Rio de Janeiro, Brazil (October 12, 1808) |
| Founder | King John VI |
| Headquarters | Brasília, Federal District, Brazil |
|
Key people
|
Paulo Rogério Caffarelli (CEO) |
| Products |
Banking Insurance Retail banking Private Equity |
| Revenue |
 US$ 51.3 billion (2016)
|
| Profit |
US$ 2.4 billion (2016)
|
| Total assets |
US$ 430.2 billion (2016)
|
| Owner | Brazilian Government (59%) |
|
Number of employees
|
100,000 |
| Subsidiaries | BB Seguridade Banco Votorantim Banco Patagonia Banco do Brasil Americas BrasilPrev BB Tecnologia e Serviços |
| Website | www.bb.com.br |
Banco do Brasil S.A. (English: Bank of Brazil) is the Second largest Brazilian and Latin American bank by assets. The bank, headquartered in Brasília, was founded in 1808 and is the oldest active bank in Brazil, and one of the oldest banks in continuous operation in the world. It is not the country's central bank.
Banco do Brasil is controlled by the Brazilian government but its stock is traded at the São Paulo Stock Exchange and its management follows standard international banking practices (Basel Accords). Since 2000 it is one of the four most-profitable Brazilian banks (the others being Itaú Unibanco, Bradesco, and Santander Brasil) and holds a strong leadership position in retail banking
Banco do Brasil was founded by then prince regent John (later King John VI of Portugal) to finance the kingdom's public debt when he moved from Europe to Brazil, in 1808. "As a mixed institution under state control, the Banco do Brasil served as a commercial bank, the government's fiscal agent, and Brazil's first bank of issue." It went bankrupt two times in history: one at independence in 1821, when John VI returned to Portugal taking with him some of the bank's assets, and the second in 1898.
From 1821 to 1964 Banco do Brasil had sometimes performed tasks that exceeded its role as a traditional commercial bank, issuing currency, having the monopoly of currency exchange transactions and serving as National Treasury holder for the government. Such tasks were gradually given to other governmental institutions, mainly with the creation of the Central Bank of Brazil in 1964 and the separation from the National Treasury in 1987.
...
Wikipedia