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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21268)	8/8/2000 12:18:52 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Banco do Brasil first-half profit falls 32 pct Reuters, 08/8/2000 10:04 BRASILIA, Aug 8 (Reuters) - Brazil's largest commercial bank, state-controlled Banco do Brasil (SAO:BBAS4), on Tuesday reported a 32 percent fall in net profit for the first half of the year. Net profit dropped to 390 million reais ($217 million) from 574 million reais ($321 million) a year earlier. The bank, in a statement released before a morning news conference, gave no reason for the decline. Banco do Brasil posted net interest income of 2.7 billion reais ($1.5 billion) and an operating profit of 559 million reais ($312 million) for the first half. It did not give corresponding figures for the first six months of 1999. For all of 1999, the bank posted a 3 percent drop in net profit from 1998, to 842 million reais ($470 million). Copyright 2000, Reuters News Service