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Brazil: Banco do Brasil Board Members Resign After Bolsonaro Swears in New CEO


Brazil: Banco do Brasil Board Members Resign After Bolsonaro Swears in New CEO
MIN READApr 5, 2021 | 19:44 GMT
Four Banco do Brasil board members resigned in protest after Brazilian President Jair Bolsonaro swore in Fausto Ribeiro as the state-owned bank’s new CEO, stating that Ribeiro, who formerly headed a small business unit at the company, lacked the necessary experience, Reuters reported March 29.. ....

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Bolsonaro's pick for Banco do Brasil CEO not ready for the job, say board members


2 Min Read
FILE PHOTO: A man wearing a protective face mask and gloves walks in front of Banco do Brasil (Bank of Brazil) during the coronavirus disease (COVID-19) outbreak in Sao Paulo, Brazil, March 24, 2020. REUTERS/Amanda Perobelli/File Photo
SAO PAULO (Reuters) - Banco do Brasil SA’s board members argued in a public statement on Thursday that President Jair Bolsonaro’s nominee to take over the state-controlled bank was not ready for the job and that the board should have the power to appoint its leader.
Currently, Brazil’s far-right President Jair Bolsonaro is entitled to nominate the chief executive, leaving its board of directors little say, in a deviation of corporate governance best practices. ....

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Banco Macro S A : announces Results for the 4Q 2020


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Buenos Aires, Argentina, March 10, 2021 - Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ( Banco Macro or BMA or the Bank ) announced today its results for the fourth quarter ended December 31, 2020 ( 4Q20 ). All figures are in Argentine pesos (Ps.) and have been restated in terms of the measuring unit current at the end of the reporting period. As of January 2020, the Bank began reporting results applying Hyperinflation Accounting, in accordance with IFRS IAS 29 as established by the Central Bank. For ease of comparison, figures of previous quarters of 2019 and 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2020. ....

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