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Banco Original kicks off digital retail platform

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Banco Original kicks off digital retail platform

Banco OriginalSA has invested 600 million Brazilian reais to a digital retail banking platformthat is aimed at attracting 100,000 high-income clients in its first year ofoperations, Valor Econômico reportedMarch 29.

The bank plans to provide all of its services online;including the ability to open an account, the report said.

The bank was previously focused on agricultural lending, butsees the opportunity to compete with major retail banks, the publication noted.

The financial institution reportedly saw its loan portfoliogrow by 68% in 2015 to 4.25 billion Brazilian reais, while its capital ratiowas at 28.7%, substantially above the required central bank minimum of 11%.

The bank plans to evaluate 's , even though it's not interestedin acquiring branch infrastructure, the report said.

As of March 28, US$1was equivalent to 3.68 Brazilian reais.