Banco do Brasil CEO says bank unlikely to be privatised

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BRASILIA (Reuters) – Brazilian state-controlled lender Banco do Brasil’s (SA:) Chief Executive Rubem Novaes on Tuesday predicted the bank was unlikely to be privatised even though he would favor such a move.

In an audience in Brazil’s lower house to explain his previous comments supporting the bank’s privatization, Novaes said such a move would be up to politicians and that President Jair Bolsonaro had already ruled it out.

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