Brazilian bank posts profits
Those buying property in Brazil could be interested to hear Banco do Brazil reported a second-quarter profit of $1.64 billion (£750 million), which hints at economic buoyancy in the country.
Latin America’s largest bank in terms of assets announced the profit, which it says it up 53.9 per cent from the same time last year, it was reported by Reuters.
According to the news agency, the government-run bank is "riding a wave of growing demand for consumer credit as the country’s economy expands at a healthy clip" which is good news for Brazilian property.
Meanwhile, it was also reported by the news provider on Thursday (August 14th) that Brazilian steelmaker CSN posted second-quarter profits of 1.03 billion reais, which further hints at economic strength in the nation.
According to BuyAssociation, Brazil is attracting investors, retirees and those looking for holiday homes despite being relatively new on the international property-buying scene.
