Banco do Brasil President Tarciana Medeiros said during the press conference about the results on Friday that President Luiz Inacio Lula da Silva (PT) has no intention of promoting changes in the summit of Banco do Brasil.
– Look, the president has not shown any intention of change here at Banco do Brasil. We always talk. I always report to the market and other shareholders about the bank’s outcome, and also to the majority shareholder, who is the controller of Banco do Brasil. We have not discussed this subject. So I would say that the pressure I feel is to deliver results from Banco do Brasil every day. This is our greatest pressure: deliver results consistent with the size of Banco do Brasil and its ability to generate profit.
Yesterday, Banco do Brasil reported its lowest profit by almost five years and reduced the payment fee of dividends after accounting changes that forced the institution to increase provisions for loan losses.
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The bank’s adjusted profit fell 60% in the second quarter compared to the same period of the previous year, reaching R $ 3.8 billion (US $ 701 million). The institution also reduced the dividend distribution rate to 30%, below the previous range of 40%to 45%, marking the first reduction in five years.
