BANKS OFFERED FOR SALE
(From a Reuter Correspondent) RIO DE JANEIRO. A prominent investment broker caused a stir in Brazilian financial circles here with full-page advertisements in Sao Paulo newspapers offering 12 banks for sale. The banks were not named but several financial details were given. One bank was stated to be short of ready cash and that its credits of 5,000,000 cruzeiros (£96,000) included a bill for 2,000,000 cruzeiros (£39,000) “which is likely to be settled with some delay.” Most of the other banks appeared to be in better financial shape. Some Brazilian bankers called the advertisement *‘a publicity stunt” to draw attention to the broker.
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Bibliographic details
Press, Volume LXXXIX, Issue 27207, 26 November 1953, Page 8
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107BANKS OFFERED FOR SALE Press, Volume LXXXIX, Issue 27207, 26 November 1953, Page 8
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