Banco do Brasil (BBAS3) approves series of measures to reorganize the state-owned company

The Banco do Brasil announced today trials of measures aimed at reducing staffing. The institution's Board of Directors has approved a set of actions for institutional reorganization that should result in dismissals of employees.

The announced measures should completely resize the state's organizational structure at the strategic, tactical, support, and business levels. Meaning general management, superintendencies, regional bodies, and agencies.

The state company also announced the creation of an area focused on artificial intelligence and analytics. The bank also stated that it intends to transform 333 branches into Advanced Attendance Points (PAA), that is, increasing the automated attendance.

BTG Pactual, Brazil's largest investment bank, announces it will make an offer to sell 48 million units

BTG Pactual SA, Brazil's largest investment bank, announced today (05.Jun.2019) it will initially sell 48 million units as part of a secondary stock offering with restricted efforts. According to the note, the bank itself will be the lead coordinator, along with Morgan Stanley, Bradesco BBI, UBS, and Banco do Brasil.

BTG announced this decision after entering the retail force with its digital platform of investments and disputed this market in Brazil. In May, the bank announced the creation of a new business unit to play all its initiatives in this segment. This area will be led by Amos Genish, former president of Vivo and Telecom Italia.

Brazilian public banks will have to return to the public coffers around R$ 20 billion in 2019

According to a report published today (January 22, 2019) by the newspaper Valor Econômico, Brazilian public banks will have to return to the Union at least R$ 20 billion in 2019.

Public banks that must return money to the public coffers are Caixa Econômica, Banco do Brasil, BNDES, Banco do Nordeste and Banco da Amazônia.

The funds are part of R$ 86 billion in loans that the institutions received from the federal government as a capital increase during the management of Dilma Rousseff (2011-2016).

According to the publication, the money returned will be used to crush the public debt. In 2019, the government is allowed to stay in the red by up to R$ 139 billion.