Fator close to buying Cigna brand

Brazilian financial institution Banco Fator is close to sealing a deal to take over the Cigna brand name in Brazil, local financial daily Gazeta Mercantil reported.

SBCE sees 15-20% premium growth this year

Brazilian export credit insurer Seguradora Brasileira de Crédito à Exportação (SBCE) expects to increase written premiums 15-20% to up to reais15m (US$7.37m) this year if the exchange rate remains around two reais to the dollar, CEO Marcelo Franco.

IDB approves US$1bn loan for BNDES

The Inter-American Development Bank (IDB) has approved a US$1bn loan to Brazil's national development bank BNDES to provide financing for SMEs, IDB said in a press release.

CEF to increase loans to SMEs 52% this year

Brazilian federal savings bank Caixa Econômica Federal (CEF) will increase loans to small- and medium-sized enterprises (SMEs) by 51.9% this year to reais35.4bn (US$17.5bn), government news agency Agência Brasil reported.

BB aligns with export credit insurer

Brazilian exporters can use export credit policies from local export credit insurer Secreb as guarantees for post-embarkation export financing from federal bank Banco do Brasil (BB).