Banco do Brasil sells $545.4 million in loans to BTG Pactual

Reuters

Published Jul 01, 2020 07:59PM ET

SAO PAULO (Reuters) - Brazilian state-run lender Banco do Brasil SA (SA:BBAS3) said on Wednesday it has sold a 2.9 billion-real ($545.40 million) non-performing loan portfolio to BTG Pactual SA (SA:BPAC3).

In a securities filing, BB said the transaction has an estimated impact of 371 million reais ($69.77 million) in its third-quarter earnings before taxes.