Brazil Has Reason to be Proud of First-Tier Banks
Wilson Roberto Levorato, Executive Vice President, FEBRABAN
Reported by Marcos dos Santos.
After a period of tension between the banking sector and the Brazilian government, the Executive Vice President of FEBRABAN (Brazilian Federation of Banks), Wilson Roberto Levorato, said recently, during a seminar of financial inclusion in Brasilia that Brazil “is the cue ball.”
“Today Brazil is the star of all the (international) participants. We have changes in income distribution, a violent reduction of unemployment and the inclusion of 63 million Brazilians who has begun to consume,” he said. “We have had a change of the Brazilian reality,” he added.
He also pointed out that the network of banking services has grown by 50% in recent years, and that the number of correspondent banks have recently increased by more than 67%. “Brazil was the country of football, but today is the country of first-tier banks,” he said. “Brazil has to be proud of their banks.”
Levorato also praised the work of the Central Bank as regulator. “We need better banking regulation in the world. However, Brazil were not directly affected by any sub-prime crisis,” he said.
Maybe there are a few things financial regulators around the world could learn from Brazil.
You may have an interest in also reading…
Driving Digital Transformation: Nepal SBI Bank Leads Nepal’s Banking Revolution
With a pioneering spirit and deep-rooted Indo-Nepalese collaboration, Nepal SBI Bank Ltd. is redefining the banking landscape through cutting-edge digital
World Bank: How to Accelerate Growth and Progress in Developing Economies
Amid a barrage of shocks during the past four years, the global economy has proved to be surprisingly resilient. Major
Otaviano Canuto: Growth Implications from a Fractured Trading System
To understand the implications of a fractured trading system, let’s use the period known as hyper-globalisation, or globalisation 2.0, as
