170520

Banco da Amazônia S/A

A Sponsor Member Primary Industry: Financial Services and Banking SIC ID: 6081
Contact Details

Address information is not currently available.

Company Profile
Banco da Amazônia is a financial institution committed to sustainable development in the Amazon, a region that occupies 59% of Brazil’s landmass and an area of 5.1 million km2, including nine of the country’s states – Acre, Amapá, Amazonas, Pará, Rondônia, Roraima, Tocantins, Mato Grosso and Maranhão. With 66 years of history in the region, the Bank has profound knowledge of its characteristics, particularities, potential and local strengths. Throughout this entire 66-year period, it has financed growth in the Amazon, and today it handles 75% of the long-term credit and almost half the total credit extended in the Northern Region of Brazil. Until the third quarter of 2008, the Bank contracted more than 35,000 operations with development resources for the Region, totalizing US$ 875.2 million, of which US$ 700.9 million came from the Constitutional Financing Fund of the North (FNO) - the main line of credit for the sustainable development of the Northern Region of Brazil, provided by Federal Government. In its commercial activities, the Bank has a strong presence in providing credit for foreign commerce, such as foreign exchange lines for ACC/ACE (Acceleration of Exchange Contract). To attain the goal of being the main facilitator of a new model of sustained growth, the Bank has an infrastructure that covers around 94% of the cities throughout the Brazilian Amazon and 15% of the banking network installed in the Northern Region of the country, and agencies in the cities of São Paulo, Brasília and Porto Alegre. All told there are 210 points of service and a team of more than 4,000 employees, including full-time employees, interns and outsourcers. Banco da Amazônia closed the third quarter of 2008 with assets of US$ 3,241.27 million and net worth of US$ 873.51 million. As a financial institution, the Bank is ranked 18th in terms of net equity in Brazil, 37th in net income and 9th in the Capital Adequacy Index. Its risk rating was recently raised to “BB” (sovereign level) by Fitch Rating, which also upgraded its Issuer Default Rating - an index of probability of non-payment by the issuer - in the short and long term in foreign and local currency. Because of its activities in favor of sustainability, Banco da Amazônia is ranked 5th among the most sustainable medium-sized banks in Brazil, and 15th among Latin American financial institutions of the same size, according to a report by the Spanish consulting firm Management & Excellence, which evaluated performance of banks in the areas of socio-environmental responsibility, corporate governance, ethics and transparency, based on more than 300 international standards. In the present, the main challenges of Banco da Amazônia are: - Conciliating the economic development with environmental conservation and preservation; - Settling conscious entrepreneurship culture among enterprises; - Promoting education and training; - Creating instruments of Corporative Governance; - Strengthening the institutional performance, the management and the strategy. At this point, it’s important to enlighten that Banco da Amazônia is going through a process of transition – a new business model is being adopted by the Bank. The New Model intends: to raise the Bank’s market share; to improve the results needed to ensure economic and financial sustainability; to leverage resources to strengthen the Bank's performance in government programs and to consolidate its mission to be the principal agent of sustainable development in the Amazon Region.
Products & Services

Sorry, there is currently no product or service information available for this member.