|Bid||7.47 x 800|
|Ask||7.52 x 900|
|Day's Range||7.52 - 7.69|
|52 Week Range||5.95 - 11.33|
|Beta (3Y Monthly)||0.38|
|PE Ratio (TTM)||10.74|
|Forward Dividend & Yield||0.05 (0.68%)|
|1y Target Est||N/A|
Backed by investors such as China's Fosun International Ltd and private equity firms General Atlantic LLC, Advent International and Warburg Pincus LLC, the newcomers have already lured more than 10% of the 2.98 trillion reais ($736 billion) invested by Brazilians in local mutual funds, stocks and bonds.
Brazil's Banco Bradesco SA beat analysts' second-quarter profit estimates on Thursday, helped by strength in consumer lending and fees, as well as a decline in loan loss provisions. Bradesco's loan book grew in the second quarter at a faster pace, expanding 8.7% year-on-year due largely to consumer loans, compared to a 3.1% rise in the prior quarter. Bradesco's second-quarter loan loss provisions fell by 0.1% from a year earlier to 3.487 billion reais.
Moody's América Latina has assigned definitive ratings to the senior shares issued by Driver Brasil Four Banco Volkswagen Fundo de Investimento em Direitos Creditórios Financiamento de Veículos (Driver Brasil Four FIDC), a securitization backed by a static pool of auto loans originated by Banco Volkswagen S.A. (Banco Volkswagen ,not rated). Banco Volkswagen S.A. is a fully owned subsidiary of Volkswagen Financial Services AG (A3, Long Term Issuer Rating, Foreign Currency).
Brazilian digital lender Banco Inter SA has hired the investment banking units of JPMorgan Chase & Co, Banco BTG Pactual, Banco Bradesco SA, Goldman Sachs and Banco Santander Brasil to manage a 1 billion-reais ($263 million) share offering, one source with knowledge of the matter said. The bank announced on Thursday that its board had approved a program to list units comprised of one common share and two preferred shares. Currently, only preferred shares in Banco Inter are listed.
Brazil's state-controlled bank Caixa Economica Federal SA is challenging a decision by corruption-ensnared conglomerate Odebrecht SA to include one of its units' foreign bondholders in its bankruptcy protection filing, according to a document filed in the court case. Among the 21 Odebrecht affiliates that filed for the bankruptcy proceeding two weeks ago was Odebrecht Finance, the issuer of $3 billion in bonds guaranteed by the group's construction unit OEC. Caixa said in the document, filed late on Monday, that Odebrecht's move to include those bondholders in the bankruptcy case was designed to reduce the voting power of other creditors.
Moody's Investors Service ("Moody's") assigned a Ba3 rating to the at least $500 million proposed senior unsecured notes to be issued by Usiminas International S.à r.l. The proposed issuance is part of Usiminas' liability management strategy and proceeds will be used to pay down existing debt, thus lengthening the company's debt amortization schedule and improving its financial flexibility.
Odebrecht SA's failure to sell its controlling stake in petrochemical company Braskem SA to LyondellBasell Industries NV and lack of cash are complicating the task of restructuring 80 billion reais ($20.67 billion) in debt owed by the corruption-ensnared conglomerate, three sources with knowledge of the matter said. The conglomerate was counting on Braskem dividends to service its debt. LyondellBasell said on Tuesday it ended talks with Odebrecht SA to buy Braskem "after careful consideration" but did not elaborate further.
Brazilian prosecutors are considering a civil lawsuit against Banco Bradesco SA , as they believe the country's second-largest private-sector bank may have failed to prevent corruption schemes, Valor Econômico ...
Prosecutors in Brazil criticized compliance standards at Brazilian bank Banco Bradesco SA on Tuesday, after requesting that a federal court issue an arrest warrant for two branch managers allegedly involved in a vast money laundering scheme. In a statement, federal prosecutors in Rio de Janeiro asked for the temporary jailing of Tânia Maria Aragão de Souza Fonseca and Robson Luiz Cunha Silva, both bank managers in the city.
Moody's America Latina ("Moody's") assigned today Aaa.br National Scale corporate family rating to Cielo S.A.("Cielo") and a Ba1/Aaa.br rating to Cielo S.A. proposed BRL 3.0 billion senior unsecured debentures. The rating of the proposed debentures assumes that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's to date and assume that these agreements are legally valid, binding and enforceable. Cielo S.A.'s (Cielo) Ba1/Aaa.br rating reflects its dominant position in the Brazilian payment card industry and broad footprint in the large Brazilian territory.
Moody's América Latina has assigned provisional ratings to the senior shares to be issued by Driver Brasil Four Banco Volkswagen Fundo de Investimento em Direitos Creditórios Financiamento de Veículos (Driver Brasil Four FIDC), a securitization backed by a static pool of auto loans originated by Banco Volkswagen S.A. (not rated). Upon conclusive review of all documents and legal information as well as any subsequent changes in information, Moody's will endeavor to assign definitive ratings to this transaction.
Banco Bradesco SA has embarked on its first-ever international acquisition by paying approximately $500 million to buy BAC Florida Bank , which focuses on high-net-worth individuals in a move intended to close the gap with Brazilian rivals. Based in Coral Gables, BAC Florida is controlled by Grupo Pellas, which was founded in 1877 in Nicaragua. After the deal closes, Bradesco said its main goal is to provide a wide range of financial services in the United States to Bradesco clients and lure new customers to BAC Florida.
Transaction Allows Expansion of Its Business to High Net Worth and Affluent Clients in The U.S. SAO PAULO , May 6, 2019 /PRNewswire/ -- Bradesco announces its entry into an agreement to acquire BAC Florida ...