The Brazilian Development Bank (BNDES) is taking yet another important step forward in expanding its international presence. On this Friday, December 6, the Bank inaugurated its representative office on the African continent. The BNDES’ new office is located in Johannesburg, in South Africa.

The Brazilian Development Bank (BNDES) recorded net profit of R$ 4.886 billion between January and September 2013, that is, 3.5% higher than that posted in the same period last year, when net profit totaled R$ 4.722 billion. The factor that most contributed to the positive performance was the earnings from financing investment projects.

The Brazilian Development Bank (BNDES) raised US$ 2.5 billion by issuing corporate bonds on the international market. The issuance was held in two series with maturity for September 2016 and 2023, resulting in interest paid to the investor of 3.375% p.a.,and 5.75% p.a. respectively. The rate represents gains of 275 and 300 basis points over the United States’ Treasury bond.

Disbursements from the Brazilian Development Bank (BNDES) totaled R$ 102 billion between January and July this year, a high of 50% compared to the same period in 2012. All of the sectors supported by the Bank showed positive performance, with well-distributed releases across industry, infrastructure, trade and services and cattle-raising.