Sao Paulo, Brazil, 1 March – The Brazilian branch of Portuguese bank Banco Portugues de Negócios (BPN), BPN Brasil in the second half of 2006 posted profit of 4.2 million reals, had profitability of 19.3 percent and the best six-month profit since it was set up in 2003, the bank said.
Headquartered in Sao Paulo, BPN Brasil’s main market is medium-sized companies, which account for more than half of its customers.
BPN Brasil is 80 percent owned by Sociedade Lusa de Negocios (SLN), and the remaining 20 percent belong to Banco Africano de Investimentos (BAI), Angola’s largest private bank.
Banco Portugues de Negocios was set up in 1993 and has assets totaling 5 billion euros and in Portugal has 203 branches. (macauhub)