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Brazil's Banco Triângulo to launch digital platform in July

Brazil-based Banco Triângulo SA will introduce in July a digital platform for customers of small and medium-sized retailers catered by the bank, Valor Econômico reported.

The platform will offer services such as the opening of checking accounts, credits and payments.

Aside from the online bank project, the bank, which is the financial arm of wholesaler Grupo Martins, also offers products including insurance and private label credit cards.

"The [economic] outlook for the year is one of growth and we are investing in the bank and [in our] wholesale [segment] to better serve our target audience, especially the retailer," bank President Edson Nassar said.

Banco Triângulo expects to expand as a whole by 25% in 2018, including credit, Nassar said. The bank's credit portfolio reached 1.7 billion Brazilian reais last year, up 10.3% from 2016, driven by a 29.5% growth in loans to individuals.

As of March 7, US$1 was equivalent to 3.24 Brazilian reais.