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Political crisis has not hit credit demand at Banco do Brasil, CEO says

The recent political crisis in Brazil has not yet impacted credit demand at state-owned Banco do Brasil SA, Diário Comércio Indústria & Serviços reported, citing the bank's CEO Paulo Caffarelli.

"The behavior of demand, especially of individuals and agribusiness, indicates that we will have a very significant second half," the executive said after attending an event by banking association Febraban.

Two other Brazilian state-run banks are also boosting their lending operations, with Caixa Econômica Federal signing a cooperation agreement with industry confederation CNI to offer more than 1 billion Brazilian reais in credit and Banco Nacional de Desenvolvimento Econômico e Social planning to triple its disbursements to small- and medium-sized enterprises in the second half.

As of June 8, US$1 was equivalent to 3.29 Brazilian reais.