BNDES Reports Record Profit of R$ 12.5 Billion in 2022 Fueled by Financial Market

Written by Bruno Teles

Published on 16/03/2023 at 17:28

Updated on 16/03/2023 at 19:30

BNDES (foto/ivulgação)

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BNDES Held a Seminar on Tuesday, 14, at the Bank’s Headquarters in Rio de Janeiro, on Sustainable Development with the Presence of the Minister of Finance, Fernando Haddad, and International Economists.

The event, organized also by Fiesp (Federation of Industries of the State of São Paulo) and Cebri (Brazilian Center for International Relations), was an initiative created to strengthen the sustainable stock market in the national market. During the event, the president of BNDES, Aloizio Mercadante, spoke about the resumption of BNDES under this new government.

“Our project is to bring BNDES spending back to historical levels since the implementation of the real, which is 2% of GDP. To achieve this, we want to double the size of BNDES by 2026, so that it can fulfill its role in the economy and society in development,” he announced in an interview.

Accompanied by directors (Luciana Costa, Natália Dias, Tereza Campello, Helena Tenório, José Luis Gordon, Nelson Barbosa, and Alexandre Abreu), Mercadante presented the results for 2022, in which BNDES recorded recurring profits of R$ 1.25 billion.

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Court Acquits Mantega and Coutinho in Fraud Case

The judge of the 12th Federal Court of Brasília acquitted the accused of fraud and corruption against BNDES – National Bank for Economic and Social Development. The case was against former Minister of Finance Guido Mantega; former president of BNDES Leonardo Coutinho; and the son of former Minister Dilma Rousseff (PT) Leonardo Mantega.

The case involving Mantega’s work at BNDES began in Lava Jato, in Paraná. The STF then forwarded it to the Federal Court of Brasília, bringing the case back to the appeal phase. During the process, the former minister turned 70 to allow for prescriptions in cases of corruption and money laundering. According to the indictment, the scheme would operate through intermediaries linking businessmen to political agents who interfere in the decisions of the banking institution.

BNDES Reports Record Profit of R$ 12.5 Billion in 2022 Fueled by Financial Market

BNDES Held a Seminar on Tuesday, 14, at the Bank’s Headquarters in Rio de Janeiro, on Sustainable Development with the Presence of the Minister of Finance, Fernando Haddad, and International Economists.

Court Acquits Mantega and Coutinho in Fraud Case

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

Scientists have discovered that the Earth recycles its own continents in the depths, dragging pieces of crust down during plate collisions and returning them later as magma, in a mechanism called relamination that has helped build the continents for billions of years.

Turkey is building a billion-dollar shortcut to channel billions of dollars by sea with a 45 km long canal, 275 meters wide and 20.75 meters deep, which promises to relieve the Bosphorus amid the crisis in the Strait of Hormuz.

Inside a giant green complex in India, Reliance connects a battery factory capable of producing 40 gigawatt-hours per year to power the country’s energy transition.

Free beer if Brazil wins: Brahma promises nationwide distribution through Zé Delivery, supermarkets, and bars if the national team wins the sixth World Cup in 2026, with redemption limited to one per CPF.

Work on holidays changes in Brazilian commerce and new rule targets supermarkets, pharmacies, retailers, and companies under mandatory collective bargaining agreement.

Construction stops in a city in RN and the builder points to Bolsa Família after saying that 4 employees left positions paying nearly R$ 3,000 to preserve the aid, reigniting the debate about the lack of labor in the interior of Brazil.

BNDES Reports Record Profit of R$ 12.5 Billion in 2022 Fueled by Financial Market

BNDES Held a Seminar on Tuesday, 14, at the Bank’s Headquarters in Rio de Janeiro, on Sustainable Development with the Presence of the Minister of Finance, Fernando Haddad, and International Economists.

Court Acquits Mantega and Coutinho in Fraud Case

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

Scientists have discovered that the Earth recycles its own continents in the depths, dragging pieces of crust down during plate collisions and returning them later as magma, in a mechanism called relamination that has helped build the continents for billions of years.

Turkey is building a billion-dollar shortcut to channel billions of dollars by sea with a 45 km long canal, 275 meters wide and 20.75 meters deep, which promises to relieve the Bosphorus amid the crisis in the Strait of Hormuz.

Construction stops in a city in RN and the builder points to Bolsa Família after saying that 4 employees left positions paying nearly R$ 3,000 to preserve the aid, reigniting the debate about the lack of labor in the interior of Brazil.

Volkswagen adopted the four-day week more than 30 years ago, reduced the working hours to 28.8 hours, and showed that working less could also save jobs.

China returned Brazilian ships with soybeans and is now tightening rules for food from Brazil, creating a new requirement effective today and placing 96,000 foreign exporters under strict supervision by the Chinese customs GACC.

Brazil wants to change its level and for that it is putting R$ 396 billion on the table in a mega plan with 35 concessions, 23 auctions, 11,300 km of highways, 9,000 km of railways, and a promise to transform national logistics.

They said Milei was destroying Argentina, but new economic data, increased confidence in banks, and an unexpected market reaction are beginning to raise a question that few imagined hearing again in the country.

Inside a giant green complex in India, Reliance connects a battery factory capable of producing 40 gigawatt-hours per year to power the country’s energy transition.

Free beer if Brazil wins: Brahma promises nationwide distribution through Zé Delivery, supermarkets, and bars if the national team wins the sixth World Cup in 2026, with redemption limited to one per CPF.

Work on holidays changes in Brazilian commerce and new rule targets supermarkets, pharmacies, retailers, and companies under mandatory collective bargaining agreement.

Construction stops in a city in RN and the builder points to Bolsa Família after saying that 4 employees left positions paying nearly R$ 3,000 to preserve the aid, reigniting the debate about the lack of labor in the interior of Brazil.