Brazil Property News: Brazilian bank posts profits




15th August 2008 07:00


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.


Share & save this story: 
Digg iconDelicious iconReddit iconFark iconYahoo! iconNewsvine! icon

Related News



News Archive


How to invest in Brazilian property

When it comes to property investment, the early bird really does catch the worm.


uv10s web site is designed to help and will provide you with the following invaluable information:



To know more, and have the chance to be one of the first to invest in this exciting and dynamic market, fill out our online form and we'll be in touch to answer all your questions.



Name:
Email:
Phone:
Your message: