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Very cautiously, Banco do Brasil is moving into the US market.
It has announced the purchase of Florida's EuroBank...for $6 mn usd.
EuroBank has three branches in Florida--Coral Gables, Boca Raton and Pompano Beach and total assets of $102.1 million with a credit portfolio of $74.8 mn usd.
It must be approved by U.S. and Brasil authorities.
“In five years, we want to have 20 branches in the US”, said VP Allan Toledo. “We will invest close to $25 million [to do so].”
