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BRB-Banco de Brasília opens voluntary redundancy program

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BRB-Banco de Brasília opens voluntary redundancy program

BRB-Banco de Brasília SA's board approved a voluntary redundancy program as the bank looks to reduce its personnel expenses, according to a securities filing.

According to the bank, the program will have a favorable impact on its results in the long and medium term.

The bank said that it will submit the program to the Brazilian government's personnel governance committee for approval.

Details of the program will later be disclosed, the bank noted.