Box has not lost money on acquisition
The President of Caixa Economica Federal, Maria Fernanda Coelho said the state bank had no losses on the acquisition of Panamericano. Also said that the institution has not failed to acquire a bank whose balance sheet hid an accounting problem of R $ 2.5 billion.
"The case does not consider it lost. She did not buy the institution as a speculator to sell high. She bought as a strategic planning and estimates that this will bring the expected return, "said Maria Fernanda, a joint Senate hearing texas health options convened by the Committee on Constitution and Justice (CCJ) and the Economic Affairs Committee (EAC).
According to the president of the Box, technical studies in 2009 showed that the Panamericano was the institution with better synergies, it was also focused on low-income clients and acted in segments in which the state bank had the same experience and participation, as financing vehicles, property and leasing.
Defending the operation of purchase of 49% of Banco Panamericano, the president of the Box said companies that advised the federal bench, as the Banco Fator, were hired by proven experience and the most competitive bids. Maria Fernanda reminded that the Banco Fator has extensive experience in advising banks to purchase and served, for example, in large institutions and large volumes, such as Santander Banespa and operations.
She also emphasized the role of the bank Grupo Silvio Santos in São Paulo. "It is important for financial institutions texas health options to credit expansion texas health options state." Maria Fernanda also stressed that the private texas health options bank credit accounted for 50% of its performance. "In addition, of course, the performance of the payroll credit to the private sector industry," quoted.
The president of the Box opened his exhibition at the hearing defending the need for the public bank to make acquisitions and mergers to be able to market growth. According to her, the creation of CaixaPar, which acquired the Banco Panamericano, just serves to make these operations in the long term.
She pondered that Gearbox texas health options was the only institution of the Brazilian financial system that could do mergers and acquisitions and that the authorization of Congress allowed it to happen. Maria Fernanda noted that identify market opportunities is important for the bank to have expandability and that the bank needs to be "on all fronts, on all products" to avoid losing market positions.
The President of Caixa cited some cases in which the bank lost the market leadership in the past, as in the area of payroll loans and presented a table in which the data show that the bank lost position in the ranking of the largest financial institutions. Therefore stressed the need for the removal of restrictions for the bank to grow.
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Categories of Funding Resources Mergers and Acquisitions IPO General texas health options Posts Latest texas health options Telecom Italia TIM would be evaluating texas health options the $ 12 billion Eike Batista sells stake in Ideiasnet for Opus Chrysler CEO says IPO is not the best way to invest Samsung seeks acquisitions to strengthen in Yoox search software to make acquisitions Archives texas health options October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 Articles Corporations that choose foreign subsidiary have new profile Despite the caution, companies are optimistic Enterprises will keep opting for fixed income next year meager growth of the economy: some reasons just discussed. Operational efficiency should texas health options serve the strategy, not the opposite.
The President of Caixa Economica Federal, Maria Fernanda Coelho said the state bank had no losses on the acquisition of Panamericano. Also said that the institution has not failed to acquire a bank whose balance sheet hid an accounting problem of R $ 2.5 billion.
"The case does not consider it lost. She did not buy the institution as a speculator to sell high. She bought as a strategic planning and estimates that this will bring the expected return, "said Maria Fernanda, a joint Senate hearing texas health options convened by the Committee on Constitution and Justice (CCJ) and the Economic Affairs Committee (EAC).
According to the president of the Box, technical studies in 2009 showed that the Panamericano was the institution with better synergies, it was also focused on low-income clients and acted in segments in which the state bank had the same experience and participation, as financing vehicles, property and leasing.
Defending the operation of purchase of 49% of Banco Panamericano, the president of the Box said companies that advised the federal bench, as the Banco Fator, were hired by proven experience and the most competitive bids. Maria Fernanda reminded that the Banco Fator has extensive experience in advising banks to purchase and served, for example, in large institutions and large volumes, such as Santander Banespa and operations.
She also emphasized the role of the bank Grupo Silvio Santos in São Paulo. "It is important for financial institutions texas health options to credit expansion texas health options state." Maria Fernanda also stressed that the private texas health options bank credit accounted for 50% of its performance. "In addition, of course, the performance of the payroll credit to the private sector industry," quoted.
The president of the Box opened his exhibition at the hearing defending the need for the public bank to make acquisitions and mergers to be able to market growth. According to her, the creation of CaixaPar, which acquired the Banco Panamericano, just serves to make these operations in the long term.
She pondered that Gearbox texas health options was the only institution of the Brazilian financial system that could do mergers and acquisitions and that the authorization of Congress allowed it to happen. Maria Fernanda noted that identify market opportunities is important for the bank to have expandability and that the bank needs to be "on all fronts, on all products" to avoid losing market positions.
The President of Caixa cited some cases in which the bank lost the market leadership in the past, as in the area of payroll loans and presented a table in which the data show that the bank lost position in the ranking of the largest financial institutions. Therefore stressed the need for the removal of restrictions for the bank to grow.
You may use HTML tags and attributes These: <a href="" texas health options title=""> <abbr title = ""> <acronym title = ""> <b> <blockquote cite = ""> <cite> <code> texas health options <del datetime = ""> <em> <i> <q cite = ""> <strike> <strong>
Categories of Funding Resources Mergers and Acquisitions IPO General texas health options Posts Latest texas health options Telecom Italia TIM would be evaluating texas health options the $ 12 billion Eike Batista sells stake in Ideiasnet for Opus Chrysler CEO says IPO is not the best way to invest Samsung seeks acquisitions to strengthen in Yoox search software to make acquisitions Archives texas health options October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 Articles Corporations that choose foreign subsidiary have new profile Despite the caution, companies are optimistic Enterprises will keep opting for fixed income next year meager growth of the economy: some reasons just discussed. Operational efficiency should texas health options serve the strategy, not the opposite.
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