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Capital Markets

Africa: Bradesco’s continental shift

Norberto Barbedo, Bradesco’s executive vice-president for investment banking, talks to Rob Dwyer about his bank’s tentative exploration of African markets and its primary focus on domestic business.

 Norberto Barbedo, Bradesco’s executive vice-president for investment banking

"If we conclude the deal the results will come for the next two decades"

Norberto Barbedo, Bradesco

Can you explain the timing of Bradesco’s decision to expand into Africa?

Norberto Barbedo, Bradesco’s executive vice-president for investment banking
We have signed a memorandum of understanding with Banco do Brasil and BES [Banco Espírito Santo] and our intention is to evaluate the business that BES already has in Africa – which is mainly in Angola because that is the most important country for BES. The memorandum of understanding outlines creating a holding company with our partners to develop and expand our transactions and presence in Africa. But it is important to say that at present we have just signed a memorandum of understanding that takes us to the end of the year, by which time we intend to have concluded the due diligence evaluation of the assets and proposal.

This is a deal that primarily concerns BES’s existing assets.

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