OriginalSourceValor InternationalBrazilLeanUnratedCredibilityUnratedPublished14:47 UTCSourceValor InternationalBrazilLeanUnratedCredibilityUnratedPublished14:47 UTC
“Disappointing earnings add pressure on Banco do Brasil CEO to step down”
“Banco do Brasil’s (BB) weak third-quarter results, released on Thursday (12), are increasing pressure for Tarciana Medeiros to step down as head of the bank, according to sources in the federal government and at the bank itself.”
Banco do Brasil faces pressure as Q3 results miss targets
Key points
- BB's adjusted net income plunged 66.5% to R$1.27 billion in Q3.
- Pressure mounts for Tarciana Medeiros to step down as CEO.
- Decision on successor deferred until Lula returns from Asia.
- Defaults in agribusiness blamed for earnings weakness and cycle.
- Government aides debate potential new leadership cycle under Lula.
How it got here
Valor International publishes the article.
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