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…
A Coup Remembered: 50 Years Later, Chile Still Split Over Pinochet Legacy
On this day fifty years ago, a pleasant pre-spring Tuesday, democracy fell to armed force in Chile. Absconded in La
The Reno Siege: Rupert Murdoch and the Great Succession Schism
As Rupert Murdoch approaches the twilight of his reign, a $3.3bn settlement in a Nevada courtroom has resolved the question
CORDET Capital: Unlocking the Potential of Northern Europe’s Lower Mid-Market
With a sharp focus on delivering compelling risk-adjusted returns, CORDET Capital has positioned itself as a distinctive force in private
