Gradually, without fanfare, Banko Brazil is preparing for privatization. But as far as the government is concerned, the BB will fall into the lap of a foreign institution.
It's no secret that, even with President Airayir Balsonaro's denials – he always says the BB is untouchable – BB's privatization plans are still going on.
The structure of the largest public financial institution is weakened, so that when the time comes, the sale will happen even under protest.
Banco do Brazilian President Ruben Novas is the perfect figure to implement the privatization plan. Discreetly, he does not advertise what he does.
Novas has sold Banko's interest in Brazil to reinsurer IRB Brazil and Nooenergy. BB Banco de Investimentos privatization contract announced. He warned he would sell BB DTVM and BB America.
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Initially, those who followed the day-to-day activities of the BB President believed that the future of the bank would be absorbed by Bredsko's activities. Both institutions have always had affinities. They are partners in many companies, such as Silo, on the cards and Elo, the banner on the cards.
Now, however, everyone at BB knows that when the bank's privatization arrives, a foreign buyer will have the advantage. The claim is the need to increase banking competition in the country.
The government is by no means accepting that none of the Brazilian banks will stay with BB. The belief is that the current market concentration penalizes consumers and businesses.
However, nothing will be done to Banco do Brasil in the Hump, so as not to disturb the President of the Republic.
Novas's solution is to complete its homework so that, at just the right time, the BB is ready to transfer its control over the private enterprise.