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Brazil’s Banco do Brasil Announces Major Restructuring

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – State-owned Banco do Brasil announced on Monday, November 21st, it will restructure its operations, closing branches, expanding digital service, reducing working hours and launching an incentive retirement plan. According to bank officials, with the overall restructuring the institution hopes to save more than R$3 billion.

“What we are doing here at Banco do Brasil today is a readjustment of Banco do Brasil to this new scenario, to this new time,” said the institution’s president Rogerio Caffarelli to reporters after the announcement. “Banco do Brasil is the leading . . .

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