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 Argentina ($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.
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.