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Brazil's Banks Plug In To Internet, Increase Profits May 02
Standard & Poors, May 2002
Abstract
NEW YORK (Standard & Poor's) May 9, 2002--Use of the Internet in Brazil will help create new business and eventually may become a commodity, despite an initial rise in competition among banks, said a new Standard & Poor's commentary released today. 'Over time it is expected that use of the Internet will increase banks' profits due to cost reduction and higher negotiated volumes,' said Tamara Berenholc, credit analyst for Standard & Poor's financial services group in Sao Paulo. 'In the short- and medium-terms, however, the Internet's effect on the financial system will be limited to an increase of expenditures, given the great investment in technology that is required, and the slow reduction of staff that usually accompanies automation of traditional...
Companies mentioned in this report are: Brazil (Federative Republic of),Banco Bradesco S.A.,Itau Unibanco Holding S.A.,Banco do Brasil S.A
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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