The National Bank for Economic and Social Development (BNDES) will join the membership of the Brazilian Federation of Banks (Febraban). The entry, which was claimed by the new president of the bank, Aloizio Mercadante, takes a development institution to the entity that represents the largest banks in the country.
“The BNDES, as the most important development agency in the country and a financial institution with its own characteristics, unparalleled in the Brazilian banking system, formalized the application for entry, which will be countersigned by the governance of Febraban”, said in a note the president of the Federation, Isaac Sydney.
With the entry, the BNDES will become part of Febraban’s consultative and deliberative bodies, in which more than 100 banks associated with the entity are represented.
The public development bank, which is one of the largest in the country in terms of capitalization, has relationships with the largest commercial banks as a transferor: in loans to small and medium-sized companies (PMEs), for example, it transfers resources to institutions, which the loan to the final customer.
Weeks ago, Mercadante said, at a meeting of the Febraban board, that he wanted to take the BNDES to the entity to expand dialogue with partner banks.
One of the purposes is to discuss possible changes in the Long Term Rate (TLP), to smooth the volatility of the index for certain audiences.
Source: CNN Brasil
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
