Brazil - U.S. Business Council

  • About
    • Leadership
    • Meet the Team
    • BUSBC Policy Agenda
    • Events
  • Policy Agenda
  • Newsroom
    • BUSBC 2022 Elections Series
    • Publications
  • Membership
    • Member Companies
    • Sponsorships

Brazil fails to auction service contract for Postal Bank

November 14, 2016 by

An auction scheduled for Monday aiming to sell operating rights to a savings bank owned by the Brazilian Post Office was canceled by the Communications Ministry. The auction was canceled due to lack of bidders. Under the proposed contract, a private financial institution would have won rights to manage deposits made by postal customers. The rights are currently held by the government-run Banco do Brasil. However, the government bank signaled its unwillingness to renew the contract, which expires this month. Financial market analysts said bidders were skeptical about the contract because of financial and management problems at the Post Office. Problems include huge debts in the postal system’s retirement fund.

Link to government news service report

More Testimonials

Filed Under: Brazil News

Brazil In The News

Brazil-U.S. Business Council

View All Brazil News Alerts

Upcoming Events

  1. The U.S.-Brazil Clean Energy Industry Dialogue

    August 18 @ 2:30 pm - 5:45 pm UTC+0

View All Events

Connect With Us

Brazil-U.S. Business Council
1615 H Street NW
Washington, DC 20062

Phone: 202-463-5729
Email: brazilcouncil@uschamber.com

  • Facebook
  • LinkedIn
  • Twitter
Copyright © 2022 | Brazil-U.S. Business Council | Privacy Policy