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Banrisul’s CEO expects credit offer expansion in Brazil

Banrisul’s CEO expects credit offer expansion in Brazil

The CEO of Banrisul, Fernando Lemos, was one of the speakers at the Second Fórum de Equilibristas, organized by the Brazilian Financial Executives’ Association of Rio Grande do Sul (IBEF-RS), held on May 5, 2008, in the Federasul conference room in Porto Alegre. The executive spoke on the topic: “Brazil’s financial market: credit and information technology at the clients’ disposal”.

The event was opened by the Finance Ministry’s State Secretary, Aod Cunha, who spoke about the state government’s two major goals regarding tax adjustment: to zero out the deficit by 2010 and to increase the investment rate to 10% of Current Net Revenues.

Aod also spoke about other structural points of the financial crisis being addressed by the government: debt restructuring and the status of the pension plan issue. Regarding the private pension plan scheme, he pointed out Banrisul’s IPO, which reserved 100% of the Treasury’s resources for retirement plans for the state’s civil servants. “The bank’s strengthening helped both the state economy’s growth and the improvement of Rio Grande do Sul’s public sector”, he said.

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