New ADR: Banco Do Brasil

Banco do Brasil (OTC: BDORY) is the latest Brazilian company to list its ADR shares on the OTC market. The bank is controlled by the Barilian government and operates 15,964 branches in Brazil and foreign countries. BB for short, Banco do Brasil is the largest financial institution in the country with 24.4 million customers with operations in 3100 cities and 22 countries and it serves every segment of the financial market.

The ADR has so far traded between $16.00 and $18.70. The last closing price was $17.00.

Some highlights from the 3Q,2009 earnings report:

  • Loan portfolio reaches surpasses R$ 300 billion and BB surpass 20% of market share
  • Delinquency at BB cool-down
  • Loan portfolio quality remains better than the Banking Industry
  • Operating Efficiency: Expenses under control, Fee income grows again
  • BB earns R$ 2.0 billion in the third quarter of 2009
  • In the first nine months of 2009, net income reached R$ 5,992 million, which corresponds to a ROE of 25.9%, growth of 2.3% in relation to the same prior-year period
  • 40% of net income distributed to the shareholders (Dividend payout ratio)
  • BB consolidates leadership: Total Assets surpass R$ 685.7 billion

For more information, please checkout their Investor Relations site here

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