SAO PAULO: Brazilian state-controlled lender Banco do Brasil SA announced on Monday a restructuring, aiming to save up to 2.7 billion reais ($493 million) by 2025, according to a securities filing.
The bank said it will close 361 business units, including 112 branches, 7 offices and 242 service stations. Banco do Brasil also announced two new buyout programs, estimating roughly 5,000 employees will join them.
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