Brazil: Portugal’s CGD and Caixa Económica Federal sign partnership deal

16 April 2009

Sao Paulo, Brazil, 16 April – Portuguese state bank Caixa Geral de Depósitos (CGD) and Brazil’s Caixa Económica Federal have signed a partnership agreement in the area of investments, CGD said in a statement.

The contract marks the start of cooperation between the two banks to “carry out operations that bring value to both banks and their customers,” the statement said.

CGD re-launched its operations in Brazil in the first quarter of this year, with the aim of becoming one of the top 50 banks in the Brazilian market by 2012.

Banco Caixa Geral Brasil started operating with capital of around 40 million euros and a team of 15 people, offering loans for projects and foreign trade, currency exchange and mergers and acquisitions advisory. (macauhub)