Santander 'to focus on Brazilian property'
Date added: 17th May, 2011 at 13:34
(view all articles from May, 2011)
Categories: Economy, Property News
Brazilian property is one of the areas the country's arm of Santander intends to focus on to boost its performance.
This is according to Bloomberg, which interviewed chairman of the company Fabir Barbosa yesterday (May 16th).
According to the news provider, Santander Brasil shares have slipped 21 per cent this year and the company is keen to attract investors by increasing lending to small and medium-sized businesses as well as concentrating on credit cards and real estate.
The bank is the third largest private financial institution in Brazil and Mr Barbosa said it would increase its credit portfolio by 15 per cent in 2011.
Santander Brasil's share price was negatively affected after it was slow to increase lending, but the chairman, who was formerly the chief executive officer of the firm, stated the company had delayed this move to be safe.
A previous report from Bloomberg stated that Banco Santander wrote in a client note in April that investment in Brazilian property could be a good move for speculators.
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Extra flights to increase access to property in Rio de Janeiro?
In which case, they may be pleased to hear that Brazilian airline TAM has announced an increase in the number of flights it operates from London to Latin America's largest economy.
The company noted the links between UK and Brazilian firms, with many employees required to travel between the two countries.
With an additional three flights a week added to the daily service it currently provides, the airline hopes that it may be able to cater for the number of British tourists and businessmen taking trips to the nation.
The extra journeys will run between London and Rio de Janeiro and are to begin on August 2nd, which may be good news for Brazilian property owners, whose assets could soon be more accessible to foreign travellers.
Hoteliers and operators of rental accommodation in the Latin American city may be particularly pleased to hear of the changes as they look forward to the 2014 Fifa World Cup and 2016 Olympics.
The 2016 event will be hosted by Rio de Janeiro, while the football tournament will involve many stadiums across the country, including those in the city.
TAM Airlines stated that the extra flights it plans to operate are designed to help cater for the increased demand that will be driven by the major sporting events.
It has already seen a growing number of customers for its Rio de Janeiro services, which were first introduced last year, as an increasing number of people take business and leisure trips to Brazil, with firms particularly attracted to Brazil's creative, banking and energy industries.
Indeed, a recent report from TAM Airlines highlighted figures from the Brazilian National Civil Aviation Agency, which showed there was a 26.7 per cent increase in demand for flights from the international market in March compared with the same month a year before.
The same statistics revealed that many of the people arriving in Rio de Janeiro may not be overseas travellers.
In fact, demand in the domestic market for flights across the country increased by 25.2 per cent in the third month of the year compared with March 2010.
However, it was noted that an influx of travellers was seen in the month due to the carnival held in Rio de Janeiro....
Date added: 16th May, 2011 at 13:25
(view all articles from May, 2011)