Thursday, February 13, 2020

Bradesco prepares energy marketing ticket

Bradesco evaluates opportunities to enter the lucrative electricity trading market. The company, the second largest private bank in the country, is the only one among the heavyweights of the financial system that does not operate in this market. Recently, Itaú Unibanco's wholesale area, Itaú BBA, created its own marketing arm, following in the footsteps already trodden by Santander Brasil and BTG Pactual. Oldest in the segment – acquired Coomex in 2010, André Esteves' bank is now among the main traders in Brazil. Decoy. The energy trading segment has been attracting the interest of the financial market in the face of the growth of the area in recent years and the prospect of expanding and modernizing free market rules. The expectation is that the greater sophistication of the sector will demand the development of financial products, such as derivatives, to bring security to energy purchase and sale operations. Acquisition. In the electricity sector, the behind-the-scenes comments are that Bradesco tried to buy the Comerc Group, one of the largest independent traders. Wanted, the bank said it was unaware of the matter. Comerc said that "it was not sought by the bank to develop or form a society."
O Estado de S.Paulo - 13/02/2020 News Item translated automatically
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