BdB Targets Bigger Banvor Position

Banco do Brasil (BdB) and Banco Votorantim are studying the possibility of the government-backed lender buying additional shares in Banco Votorantim, Banco do Brasil says. Banco do Brasil holds 49.99% of the voting shares and 50% of the preferred shares Banco Votorantim, and is considering acquiring additional preferred shares. No specific target was discussed. BdB has used its position in Votorantim to expand in auto loans, paycheck loans and credit for mid-size companies. A larger piece might also be away to build up BdB’s investment banking activity.