Portugal's largest bank Caixa Geral de Depositos (CGD) is relaunching the sale of its Brazilian business as part of its strategy to streamline its international presence, executive board member Francisco Cary told Reuters on Monday.
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LISBON Portugal’s largest bank Caixa Geral de Depositos (CGD) is relaunching the sale of its Brazilian business as part of its strategy to streamline its international presence, executive board member Francisco Cary told Reuters on Monday.
This will be CGD’s second attempt to sell its Brazilian lender after rejecting three binding offers at the end of 2019 because it said they did not reflect the real value of the bank.
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LISBON, May 10 (Reuters) - Portugal’s largest bank Caixa Geral de Depositos (CGD) is relaunching the sales process for its Brazilian unit as part of its strategy to streamline its international presence, executive board member Francisco Cary told Reuters on Monday.
Banco Caixa Geral-Brasil bank, which serves mainly corporate customers, held assets worth 1.35 billion reais ($257.98 million) at the end of last year.
“BCG Brazil has continued to reconfigure and rationalise its structure and operations in 2020, and it has become evident that this is the opportune moment to test the market again, with the view of completing its sale,” Cary said in an emailed statement to Reuters.
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LISBON, May 10 (Reuters) - Portugal’s largest bank Caixa Geral de Depositos (CGD) is relaunching the sale of its Brazilian business as part of its strategy to streamline its international presence, executive board member Francisco Cary told Reuters on Monday.
This will be CGD’s second attempt to sell its Brazilian lender after rejecting three binding offers at the end of 2019 because it said they did not reflect the real value of the bank.
Banco Caixa Geral-Brasil bank, which mainly serves corporate customers, held assets worth 1.35 billion reais ($256 million) at the end of 2020.
“BCG Brazil has continued to reconfigure and rationalise its structure and operations in 2020, and it has become evident that this is the opportune moment to test the market again, with the view of completing its sale,” Cary said in an emailed statement.