BNDES has a loss of $105 mm in the 2nd quarter

BNDES made a loss of R$ 582 million ($105 mm) in the second quarter, reversing the R$ 5.5 billion ($1bn) profit obtained in the first three months of the year, the bank said. The second quarter’s result was affected by the Covid 19 pandemic and BNDES’s board of directors said the provision for credit risk was R$2.3 billion ($418 mm) for the period.

Source: G1

Categories: Macroeconomy/Finance