(MENAFN - Brazil-Arab News Agency (ANBA))
Rio de Janeiro – The Brazilian Development Bank (BNDES) posted BRL 11.1 billion (USD 2.8 billion) in profit in the first quarter of 2019. This result represents a 436.7% year-on-year growth, from a BRL 2.1 billion (USD 528 million). 'It shows BNDES is still very strong,' said president Joaquim Levy.
According to BNDES, one of the factors contributing to this result was the positive performance of equity holdings of Sistema BNDES (including BNDESPAR) in the first quarter of 2019, at BRL 12.5 billion (USD 3.1 billion).
Translated by Guilherme Miranda
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