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Banco do Brasil sells $545.4 million in loans to BTG Pactual - Metro US

Banco do Brasil sells $545.4 million in loans to BTG Pactual

A woman wearing a protective face mask walks in front of Banco do Brasil (Bank of Brazil) cultural building during the coronavirus disease (COVID-19) outbreak, in Sao Paulo

SAO PAULO (Reuters) – Brazilian state-run lender Banco do Brasil SA <BBAS3.SA> said on Wednesday it has sold a 2.9 billion-real ($545.40 million) non-performing loan portfolio to BTG Pactual SA <BPAC3.SA>.

In a securities filing, BB said the transaction has an estimated impact of 371 million reais ($69.77 million) in its third-quarter earnings before taxes.

(Reporting by Carolina Mandl; Writing by Gabriela Mello; Editing by Sandra Maler)

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