Awards for Excellence 2019
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Banco do Brasil wins the award for the region’s best bank transformation.
While its transformation began with the appointment of Paulo Caffarelli in May 2016, it is in the past 12 months under the leadership of his successor, Rubem de Freitas Novaes, that the results have matched the strategy.
Banco do Brasil was severely weakened under former president Dilma Rousseff, who tried to use the public-sector banks as a macro-prudential tool to spur growth and force the private banks to lower interest rates; as a result the bank’s financials were on the floor.
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