Brazil’s Caixa Econômica Federal (Caixa) President, Pedro Guimarães, said the bank is planning to resume operations aimed at the market and to completely focus in the sales of participations on its subsidiaries.
The plans are to sell a share in five of its businesses: insurances, credit cards, asset management, lotteries, and digital banking. This last one is an asset that Caixa is still establishing, putting together the net assets created from the services delivered by the Caixa Tem app together with those from the millions of accounts created to the payment of the emergency state help. According to the executive, these public listings will be one of his legacy in the institution, stating that the presence of minority shareholders tends to strength governance.
Part of the sales will be made throughout an IPO. “We want to resume operation in the capital markets. One of Caixa’s total focus is tocary out these IPO’s, including that for the digital bank”, he said during an event from Credit Suisse.
Original Story: BNL Data | Editor’s Blog
Photo: Caixa Econômica Federal site
Edition and Translation: Prime Yield