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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



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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.

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

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