Brazil-based public bank Caixa Economica Federal plans to buy stake in at least one more bank besides Banco Panamericano by this year-end, reported Reuters citing newspaper O Estado de S Paulo.
Reportedly, Caixa will adopt the same model it is using for its purchase of 49% of voting shares and 20% of preferred shares in Banco Panamericano.
The Panamericano deal could be worth about $402m. Caixa said that any further acquisitions will be aimed at either providing new products or improving its performance in various market niches, reported the news agency.
