Banco do Brasil
State-owned Banco do Brasil has taken home the award after posting brilliant results for 2002. Its net profit surged 87.4% last year, while its ROE rose to 22.6% from 12.9% in 2001. It also posted a 23.9% rise in assets and a moderate decline in its cost-to-income ratio to 59%.
During its banner year of 2002, the bank’s technology played a crucial role in its success. It launched a software tool for corporate clients that incorporates e-commerce, cash management and business applications related to payment. By the end of the year, about 445,000 companies had conducted 336,000 transactions using this tool. In the retail sector, Banco do Brasil’s high degree of automation was reflected in the fact that 83.2% of all customer transactions were done through automated channels, including its vast cash machine network – the largest in the country – and internet banking.
Last year, Banco do Brasil restructured to focus on three key business areas: retail, corporates and government. The bank is sure that this “segmentation strategy” will ensure that it remains a market leader in Brazil.
