Politics
Bradesco (BBD) Approves $2 Billion Capital Increase for Digital Push
Key Points
Bradesco Approves $2 Billion Capital Increase for Digital Push Banco Bradesco SA will increase its capital by as much as 10 billion reais ($2 billion), with its top investors providing support to the lender’s ongoing digital revamp. The controlling shareholders, including vehicles run by the founding Aguiar family, the bank’s workers and an affiliated foundation, pledged to together contribute as much as 8 billion reais to the capital raise they proposed, Bradesco said in a filing Wednesday....
Bradesco Approves $2 Billion Capital Increase for Digital Push
Banco Bradesco SA will increase its capital by as much as 10 billion reais ($2 billion), with its top investors providing support to the lender’s ongoing digital revamp.
The controlling shareholders, including vehicles run by the founding Aguiar family, the bank’s workers and an affiliated foundation, pledged to together contribute as much as 8 billion reais to the capital raise they proposed, Bradesco said in a filing Wednesday. The fresh funds would contribute to the strategy of Chief Executive Officer Marcelo Noronha, who took over in November 2023 seeking to close a technological gap between Bradesco and its main rivals.