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Bradesco shareholders OK capital hike

Shareholders of Banco Bradesco SA approved a proposed capital increase of 8.00 billion Brazilian reais, according to a March 12 securities filing.

As a result, the bank will be able to raise its capital stock to 67.10 billion reais from 59.10 billion reais. New shares will be allotted to shareholders at the ratio of 1 new share for every 10 shares already held.

As of March 9, US$1 was equivalent to 3.25 Brazilian reais.