Banco do Brasil has stated that it will sell its 59 % stake in Banco Patagonia . after the bank sell its stake , analysts estimate a one - time price of BRL3.1bn ( $ 988 m ) for Banco do Brasil . The possible sale is one of many attempts by Brazilian state - run banks to counteract the effects of the country ’s prolonged economic recession and it ’s banking industry ’s deterioration of assets .
Banco do Brasil has stated that it may sell its 59% stake in Banco Patagonia. Should the bank sell its stake, analysts estimate a one-time gain of BRL3.1bn ($988m) for Banco do Brasil. The possible sale is one of many efforts by Brazilian state-run banks to counteract the effects of the country’s prolonged economic recession and it’s banking industry’s deterioration of assets.