Brazil's Banco Cruzeiro do Sul SA, which specialises in payroll-deductible loans, is transferring the management of half its asset-backed receivables fund to Banco Bradesco SA to help encourage financing.
Officials from IFC - a member of the World Bank Group - FIMBank plc - the Malta-based trade finance bank - and BicBanco have attended the inauguration ceremony to officially launch Brasil Factors.
Brasil Factors will get the green light to kick off its operations in November this year, following its first capital injection and appointment of the board in October, according to CEO Joao Costa Pereira.
Portugal s Banco Comercial Portugu s (BCP) has signed a partnership agreement with Banco Privado Atl ntico (BPA) to open a bank in Brazil, GTR reports.
Alexandre Bucker de Souza, director of Exicon Exportacao, Importacao e Consultoria in Brazil, provides an overview of the Brazilian factoring market for the World Factoring Yearbook 2011, covering industry environment, market performance, supply and future trends.