Parana to raise up to US$185mn in capital

Brazilian midsize bank Paraná Banco plans to raise up to 400mn reais (US$185mn) in capital, the bank said in a filing with São Paulo stock exchange Bovespa.
The bank's board approved the program to end-December.

Paraná Banco is controlled by local holding company J Malucelli Holding, which has 72.4% of the voting stock and 41.8% of its overall shares, according to the latest Bovespa filings.

Paraná Banco recorded 19.1mn reais in third quarter net profits, falling 10.6% on the same quarter last year. The bank held 2.19bn reais in total assets at end-September, increasing 22.0% on the same time last year.

Publication: Business News Americas - English News
Provider: Business News Americas
November 7, 2008