Word: bradesco
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...same period that Harvard unloaded its 67,200 shares of PetroChina on the New York Stock Exchange, it also sold all 67,200 American shares it owned of Banco Bradesco, a Brazilian banking and insurance firm. And Harvard also sharply reduced its holdings of Huaneng Power International, a Chinese electric company...
...City of God," eleven miles from Sao Paulo in Brazil. With a school, a hospital and all other things for the material needs of its 1,200-odd inhabitants, it is the headquarters community built by Brazil's liveliest and fastest-growing bank: Banco Brasileiro de Descontos, or Bradesco as it is commonly known...
Beneath its blandly bucolic skin, Bradesco hides tough sinews. South America's most elaborate computer system operates 24 hours a day in the City of God. Helicopters and a bristling network of rooftop antennas link the city with many of Bradesco's 327 branches, spread over south and central Brazil. Seventeen radio stations keep the bank's executives in constant touch with remote offices. While most of Brazil's musty banks know where they stand only two or three times a month, Bradesco directors in the 13-story headquarters building in the City of God scan...
From Broom to Pencil. Such modern techniques, combined with fast reaction to loan requests and an unusual willingness to take chances, have pushed Bradesco from nowhere 25 years ago into a commanding position as Brazil's biggest private bank-second in size to the federal government's bank. It now has deposits of $175 million, serves 1,200,000 customers and claims 174,000 shareholders, including all of its 8,064 employees...
From the beginning, his bank concentrated on the rural areas in the inte rior, financing coffee growers and cattlemen. Bradesco endeared itself to its distant customers by such services as providing them with needed supplies and taking care of their bills and taxes in the capital. As the interior developed, Bradesco thrived and helped open more territories for cultivation, notably in the north of Parana state, now Brazil's richest coffee-producing area. "The sky is the limit," says Aguiar. "Now we have many more resources. We can do much more...
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