BDORY - Banco do Brasil S.A.

Other OTC - Other OTC Delayed Price. Currency in USD
11.14
+0.14 (+1.23%)
As of 10:29AM EST. Market open.
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Previous Close11.00
Open11.06
Bid0.00 x 0
Ask0.00 x 0
Day's Range11.05 - 11.19
52 Week Range10.46 - 15.01
Volume19,712
Avg. Volume262,544
Market Cap31.318B
Beta (3Y Monthly)N/A
PE Ratio (TTM)9.84
EPS (TTM)1.13
Earnings DateN/A
Forward Dividend & Yield0.35 (3.18%)
Ex-Dividend Date2019-11-22
1y Target EstN/A
  • Reuters

    UPDATE 2-UBS says Brazil joint venture to help offset global pressure on fees

    A newly announced joint-venture by UBS Group AG and Banco do Brasil SA will help the Swiss bank offset global pressure on investment banking fees, UBS' co-head of investment banking Rob Karofsky told journalists on Thursday. The deal comes as UBS shakes up its investment banking arm to boost earnings and curb costs while it struggles with muted global equity, debt and M&A activity. Karofsky said the joint venture is part of the bank's effort to further connect clients globally and offset declining fees in investment banking, giving it access to more deals in Brazil, a booming market at the moment.

  • UBS says Brazil joint venture to help offset global pressure on fees
    Reuters

    UBS says Brazil joint venture to help offset global pressure on fees

    A newly announced joint-venture by UBS Group AG and Banco do Brasil SA will help the Swiss bank offset global pressure on investment banking fees, UBS' co-head of investment banking Rob Karofsky told journalists on Thursday. The deal comes as UBS shakes up its investment banking arm to boost earnings and curb costs while it struggles with muted global equity, debt and M&A activity. Karofsky said the joint venture is part of the bank's effort to further connect clients globally and offset declining fees in investment banking, giving it access to more deals in Brazil, a booming market at the moment.

  • UBS, Banco do Brasil Reach Deal for Venture in South America
    Bloomberg

    UBS, Banco do Brasil Reach Deal for Venture in South America

    (Bloomberg) -- UBS Group AG and Banco do Brasil SA agreed to create a partnership for investment banking and an institutional-brokerage business in South America.The venture, which still needs regulatory approval, will operate in Brazil, Argentina, Chile, Paraguay, Peru and Uruguay, the two companies said Wednesday in a statement.UBS will have a controlling stake of 50.01% of total capital and Banco do Brasil, the nation’s biggest bank by assets, will hold the rest. There will only be common shares. Giving the Zurich-based company control means the venture wouldn’t have to comply with some of the constraints Brazil places on state-owned entities, such as restrictions on bonuses and hiring.The Brazilian lender’s clients will benefit from UBS’s global trading and investment-banking reach and research capabilities, while the Swiss firm gains access to Banco do Brasil’s corporate customers and transaction flows. UBS will contribute its investment-banking platform in Brazil and Argentina, as well its leading institutional brokerage business in Brazil, the companies said.UBS also gains entrance into the booming local fixed-income market, where Banco do Brasil is the fifth-biggest underwriter so far this year, according to Anbima, the capital markets association. The bank earned 462 million reais ($114 million) in capital-market fees during the first half, 11% more than a year earlier, according to its earning statement.“If I am a corporate client of Banco do Brasil, I will now have access to what UBS has in terms of its local and global capabilities,” Tom Naratil, president for UBS Americas and co-president for global wealth management, said in an interview. “If you look at our partnership, there is very little overlap of capabilities.”The companies will each appoint three board members to the venture, with the chairman picked by Banco do Brasil. UBS will name the vice chairman and chief executive officer. Banco do Brasil will also select a commercial officer to oversee the relationship between its customers and corporate bankers, and the newly formed investment bank. The venture will be incorporated on UBS’s balance sheet under UBS Brazil, led by the CEO for the country, Sylvia Coutinho.“We expect the capital markets in Brazil to flourish and companies to begin issuing more and more debt and equity, and we plan to have a leading position in those businesses,” Coutinho said in an interview, adding that the deal came together after 18 months of talks. “Most of the companies in Latin America are owned by families, so there is a lot of synergy between our wealth-management business, where we are global leaders, and the investment-banking business.”Bank RankingsBanco do Brasil, the nation’s biggest asset manager, doesn’t have its own brokerage to trade securities, forcing it to rely on other banks. The Brasilia-based lender had 1 trillion reais in assets under management as of September, according to Anbima. UBS’s broker dealer, ranked No. 1 in Brazil equity trading since 2014, is in second place this year, according to data compiled by Bloomberg.Banco do Brasil had a loan book of 686.6 billion reais as of June. Loans to large corporations accounted for about 154 billion reais of the total. The state-owned bank can help the joint venture win investment-banking deals that require credit such as bridge loans for acquisitions or underwriting of local bonds -- markets that are booming this year.“Banco do Brasil is extremely strong in debt capital markets, and we can benefit from that,” Naratil said.UBS ranks fourth in advising on mergers in Brazil this year through Nov. 4 and 11th in equity underwriting, according to data compiled by Bloomberg. The Zurich-based lender doesn’t participate in the local bond market.UBS’s broker dealer lost its No. 1 rank in Brazil equity trading this year to XP Investimentos SA, according to data compiled by Bloomberg. XP handled 894.8 billion reais in gross value this year through Nov. 4, while UBS took second with 672.8 billion reais, the data show. XP also owns brokerages Clear and Rico, which add an additional 219.9 billion reais to the firm’s total.UBS’s brokerage, which doesn’t operate in the retail market in Brazil, has led the nation in low latency computer trading, a market dominated by foreign investors. The bank also has a strong presence in the cash equity and derivatives markets.Companies related to wealth and asset management aren’t included in the partnership.(Updates with executives’ comments starting in the sixth paragraph. A previous version of this story corrected the date of the companies’ announcement.)\--With assistance from Felipe Marques.To contact the reporter on this story: Cristiane Lucchesi in Sao Paulo at clucchesi5@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    UPDATE 1-Banco do Brasil's profit jumps and sets higher target

    Banco do Brasil SA on Thursday posted a 33.5% rise in third-quarter profit helped by higher consumer lending and fee income. Banco do Brasil estimates it will grow between 16.5% and 18.5% this year, above a previous 14.5%-17.5% target range. Amid absent loan book growth, Banco do Brasil's management decided to tighten its belt to improve efficiency and maintain profitability.

  • UBS and Banco do Brasil to launch new investment bank in South America
    Reuters

    UBS and Banco do Brasil to launch new investment bank in South America

    UBS will hold a 50.01% stake and Banco Do Brasil will own a 49.99% stake in the new investment bank, according to UBS. Both companies will appoint three members each to the board of the new investment bank, the statement said. UBS added that the investment bank's chairperson will be appointed by Banco Do Brasil, while UBS will appoint the Vice Chairperson and Chief Executive Officer.

  • Brazil Banking Giant’s Share Sale Raises $1.4 Billion
    Bloomberg

    Brazil Banking Giant’s Share Sale Raises $1.4 Billion

    (Bloomberg) -- Banco do Brasil SA, Latin America’s biggest lender by assets, and a government-managed fund raised 5.8 billion reais ($1.4 billion) by selling shares of the state-owned bank, another step in Brazil’s effort to shrink the size of the state.Shares of the company rose to a three-week high after the deal, which priced 132.5 million shares at 44.05 reais apiece, according to a regulatory filing. A little over half of the shares were sold by a Brazilian workers’ investment fund known as FI-FGTS, managed by another state-controlled bank, Caixa Economica Federal. The rest was sold by Banco do Brasil itself, which held some of its own shares through its treasury desk.The bank’s shares rose 2% to 45.79 reais at 11:23 a.m. in Sao Paulo, compared with a 0.3% increase for the benchmark Ibovespa index. They closed at 44.91 on Thursday.Banco do Brasil’s sale is part of a broader effort by the government to shore up fiscal accounts through asset sales. Caixa has been leading the effort, having sold a roughly $1.9 billion stake it held in oil-and-gas giant Petroleo Brasileiro SA. Other funds managed by the bank sold a stake in IRB Brasil Re, and Banco do Brasil has also pitched in, selling its investment in Neoenergia SA in an initial public offering.With over 1.5 trillion reais in assets, Banco do Brasil has been trying to catch up to its non-state owned peers in profitability by focusing on loans with better spreads, closing brick-and-mortar branches and announcing another voluntary dismissal program.The company is also trying to improve its laggard investment bank through a partnership with UBS Group AG, which would see the Zurich-based firm taking a majority stake in a new joint venture operating in Brazil, Argentina, Chile, Paraguay, Peru and Uruguay.Underwriters for the share sale were Banco do Brasil’s investment-banking unit, Credit Suisse Group AG, Caixa, Banco Itau BBA and JPMorgan Chase & Co.(Updates with official filing, share movement starting in second paragraph.)To contact the reporters on this story: Vinícius Andrade in São Paulo at vandrade3@bloomberg.net;Felipe Marques in Sao Paulo at fmarques10@bloomberg.net;Rachel Gamarski in in Brasilia at rgamarski@bloomberg.net;Cristiane Lucchesi in Sao Paulo at clucchesi5@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Vincent BielskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Nothing changes at Brazil's BNDES after departure of director - CEO

    The recent departure of a senior official at Brazilian development bank BNDES does not change the bank's strategy and was part of the normal turnover at the institution that oversees privatizations, its chief executive said on Friday. "Nothing changes in the bank's strategy, nothing changes in its plans," Gustavo Montezano said in a statement to reporters. Two people with knowledge of the matter told Reuters on Thursday that the majority of BNDES' board voted to dismiss director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales.

  • Reuters

    UPDATE 1-Brazil's BNDES fires director after divestment dispute -sources

    SAO PAULO/RIO DE JANEIRO, Oct 17 (Reuters) - The majority of the board of Brazilian development bank BNDES has voted to dismiss director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales, two people with knowledge of the matter said on Thursday. One of the sources said the board members voted by phone in a meeting requested by BNDES Chairman Thadeu de Freitas. Laloni requested a leave of absence from the bank on Friday, after clashing with other directors over the sale of shares in state-controlled lender Banco do Brasil SA.

  • Reuters

    Sale of $29 bln in Brazil government assets hinges on BNDES spat -sources

    SAO PAULO/RIO DE JANEIRO, Oct 15 (Reuters) - The sale of some 120 billion reais ($29 billion) worth of shares owned by Brazilian development bank BNDES has snagged on a dispute among the bank's executives, three people with knowledge of the matter told Reuters. On Friday, BNDES director Andre Laloni requested a temporary leave after clashing with staff over a share offering of state-controlled bank Banco do Brasil SA set for Thursday, the sources said on condition of anonymity. BNDES did not respond to a request for comment.

  • Moody's

    Banco Do Brasil S.A. (Cayman) -- Moody's affirms Banco do Brasil's ratings; outlook stable

    Moody's Investors Service ("Moody's") has today affirmed all of Banco do Brasil S.A.'s (BB) ratings, following the affirmation of the bank's ba2 baseline credit assessment (BCA). BB is rated Ba2 and Not Prime for long- and short-term local currency deposits and Ba3 and Not Prime for long- and short-term foreign currency deposits. The affirmation of BB's ba2 BCA and all its ratings recognizes the gradual improvement of the bank's profitability and capital metrics over the past two years, despite Brazil's slow economic growth and modest business activity.

  • Reuters

    UPDATE 2-Brazil's Caixa requests liquidation of conglomerate Odebrecht- court document

    Brazilian state bank Caixa Economica Federal has filed a legal motion requesting the liquidation of engineering conglomerate Odebrecht SA, according to court documents seen by Reuters, in what could be a dramatic end to the graft-plagued company. Caixa also demanded that creditors appoint new management at the conglomerate and its subsidiaries if the judge does not order the company's liquidation. The move by Caixa adds pressure on Odebrecht to restructure its debts in one of Latin America's largest-ever bankruptcy cases.

  • Reuters

    State-controlled Banco do Brasil, Caixa request annulment of Odebrecht restructuring plan

    State-controlled Brazilian banks Banco do Brasil SA and Caixa Economica Federal have requested that the judge overseeing the bankruptcy protection proceeding of conglomerate Odebrecht SA annul the debt restructuring plan presented to the court. According to court documents seen by Reuters, Caixa Economica has requested an immediate halt to the proceedings, alleging the plan is not compliant with Brazilian bankruptcy law. With similar arguments, Banco do Brasil requested that the judge order Odebrecht to present a new plan compliant with the law.

  • Moody's

    Cielo USA Inc. -- Moody's announces completion of a periodic review of ratings of Cielo S.A.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Cielo S.A. New York, October 01, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Cielo S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Reuters

    UPDATE 2-Banco do Brasil managers targeted in $48 million money laundering probe

    Brazilian police on Friday raided the homes of Banco do Brasil managers suspected of involvement in a 200 million reais ($48 million) money laundering scheme, police said, the latest phase of Brazil's massive Car Wash corruption scandal. According to the Federal Public Prosecutors office, police are investigating allegations that managers at three branches of the state-controlled bank laundered more than 200 million reais between 2011 and 2014, the office said. Banco do Brasil said in a statement it has launched internal investigations that may result in dismissing suspected employees, adding it is collaborating with authorities.

  • Reuters

    UPDATE 1-UBS, Banco do Brasil to create investment banking venture in South America

    Switzerland's UBS Group AG and state-controlled Banco do Brasil SA signed a preliminary agreement on Monday to create a joint venture in investment banking in South America, the Brazilian bank said in a securities filing. According to the filing, the new joint venture will provide investment banking services in Brazil and a number of other South American countries: Argentina, Chile, Peru, Paraguay and Uruguay.