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Brazil’s 2018 Economic Forecast Will Increase Internet Banking According To Bradesco’s CEO Luiz Carlos Trabuco

In 1951, Bradesco was the largest private bank in Brazil. That’s a major achievement considering the bank was only eight-years-old at that time. In 1943, Bradesco was Banco Brasileiro de Descontos, and the purpose of the bank was to help retailers, government employees, and small landowners in Marília, a small city in the state of São Paulo get the money they needed to survive. Amador Aguiar, the founding father of the bank, moved the bank to São Paulo in 1946, and in 1953, he moved the bank’s headquarters to Osasco, São Paulo. And in 1956, Amador Aguiar is responsible for creating the biggest education program in the country, Fundação Bradesco.

According to, Bradesco was the first bank to buy a computer in 1962, and in 1968, Bradesco was the first bank to offer Brazilians a credit card. So it’s no surprise that Bradesco is still creating bank programs and investment opportunities that give the people of Brazil a chance to get out from under the devastating economic conditions that put the country in a state of financial chaos for the last three years. Thanks to Lázaro de Mello Brandão, the bank’s second Chairman of the Board of Directors, and CEO Luiz Carlos Trabuco, Bradesco continues to help its customers with insurance plans, pension programs, investments, and loans while the country emerges from the worst recession in more than 90 years.

But Lázaro de Mello Brandão, the spry, 91-year-old banker who is partly responsible for the amazing growth of the bank is retiring. Brandão gets a lot of credit for the 1996 launch of the first Internet banking system in Latin America as well as the 1997 purchase of banco BNC. But the 2003 acquisition of a subsidiary of BBVA, and the 2006 acquisition of American Express subsidiary in Brazil are also Brandão accomplishments. When Brandão said he was retiring and Luiz Carlos Trabuco was taking his place, Bradesco employees knew the executive branch of the bank would be in good hands. For the last eight years, Trabuco has given the Bradesco banking brand domestic and international notoriety.

Read more: Trabuco will assume the presidency of Bradesco’s board; bank to appoint new chief executive in March

Trabuco is taking over as chairman, but he is still the CEO until the bank finds a new CEO. Finding someone to replace Trabuco is not an easy task. His reputation as a skilled banker and an effective manager is well-known around the world. Thanks to a degree in philosophy and graduate studies in psychology, and 48 years of dedicated service, Trabuco is a hard act to follow. But the Bradesco Board of Directors under the guidance of Trabuco and Vice-Chairman Carlos Alberto Rodrigues Guilherme will pick a new CEO from seven internal candidates. Those candidates have the experience and the credentials to be the next CEO, but a couple of those men may be more qualified to keep the bank relevant during the economic revival, and the demand for more digital banking services. One of those men is IT chief, Mauricio Machado de Minas, and the other man is Octavio de Lazari, the president of the bank’s insurance division, Banco Seguros.

Five other candidates on, Andre Cano, Marcelo Noronha, Josué Augusto Pancini, Domingos Figueiredo Abreu, and Alexandre da Silva Glüher are also reliable and effective executives who can lead the bank while the government tries to figure out what to do to get the economy moving again. The new economic forecast is a 1.1 percent increase in the GNP in 2017 and a 3.3 percent increase in 2018. The Bradesco executives know those figures may not be accurate, but any economic growth with help Bradesco’s bottom line profits in 2018, according to Mr. Trabuco.

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