Brazil's Bradesco to raise up to $2.3 bln with central bank - exec [Reuters]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
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bradescori.com.br/sitebradescori/default-en.aspx
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Source: Reuters
Brazil's Bradesco to raise up to $2.3 bln with central bank - exec SAO PAULO, April 15 (Reuters) - Brazil’s second largest private-sector bank, Banco Bradesco SA, plans to raise between 8 billion reais and 12 billion reais ($2.29 billion) through a new coronavirus-related central bank program, one of its vice presidents said in an interview on Wednesday. Cassiano Scarpelli said although the bank does not need the funds, it will raise the funds backed by its credit portfolio as a way of testing the central bank plan for possible future use. The liquidity plan cleared by the central bank’s Monetary Council earlier this month could allow banks to issue up to 650 billion reais in loans to ease the coronavirus-related downturn, which economists say could be the region’s worst in decades. “Banks’ liquidity is doing well so far, but it is tough to know how it will evolve from now on,” Scarpelli said. Lenders are allowed to raise an amount equivalent to their shareholders equity through the s
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