Bradesco’s CEO Luiz Carlos Trabuco Welcomes The Interest Rate Cut By The Central Bank

Brazil is making progress in the fight to get Latin America’s largest economy in gear again. The Brazilian government is trying to sort through all the red tape that bogs Brazilian businesses down, and they are slowly doing that. Brazilian stocks got a boost when Brazil’s Central Bank cut interest rates from 13 percent to 8.5 percent. Banco Bradesco’s CEO Luiz Carlos Trabuco likes that move because the bank’s stock and the related electronic traded funds (EFTs) are on fire. Bradesco is not the only bank experiencing a stock and EFT rally. All Brazilian bank stocks shot up when the news about interest rates hit the news.

Another bright spot in Bradesco’s game plan is the bank’s digital account, Next. Next is an independent bank platform with modern communication systems, according to Trabuco. Bradesco also put R$ 100 million in an investment fund to promote innovation. The fund is the InovaBra Ventures fund, and part of that money is giving startups a chance to succeed. According to Bradesco’s executive director, Luca Cavalcanti, the InovaBra Ventures is an international program with offices in London and New York. Bradesco is actively seeking foreign investors, and thanks to CEO and president Luiz Carlos Trabuco and his executive team, more foreign investors are getting on board.

Trabuco is a seasoned banking veteran and a long-time Bradesco employee. Luiz began his banking career in the state of São Paulo, and he is still a São Paulo native. Most people don’t know Trabuco rose through the ranks, but he did. Mr. Trabuco is familiar with every aspect of the banking business. Even though he’s not a finance guy or an accountant, he has what it takes to manage a bank like Bradesco. With more than 5,000 bank branches, Bradesco is giving Itaú a run for the silver medal for bank size, and Luiz Carlos Trabuco and his staff deserve some of the credit for that. Trabuco likes to say a bank is only as good as the people who work there, and the systems that make banking easy as well as the support of a loyal customer base.

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The Central Bank’s Monetary Policy Committee knows the new interest rate help will ease some of the pain in Brazil. Businesses will be able to borrow again. Unemployment is dropping so people may think about getting a loan for a new car or house as well as for other things. But cutting interest rates is only part of the economic solution. Luis Carlos Trabuco and his team put several programs in place so they can connect with their customer base frequently, and it’s working.

Wall Street is singing the praises of Bradesco’s stock because bank profits are through the roof. Customers and investors like the way 66-year-old Luiz Carlos Trabuco manages Bradesco. With thousands of ATMs around the country, and hundreds of service centers in convenient locations, as well as an up-to-date tech department and several websites, Trabuco and the bank’s staff are becoming a force to reckon with in the banking tech war. All businesses in Brazil know Brazilians are more tech savvy now, and in order to keep up, companies and banks must have a serious online presence.

No one is sure if Brazil will be an effective emerging market player again, but one this is sure. The banks in Brazil will continue to make a lot of money, and Bradesco will be near the top of that list.

For more information about Luis Carlos Trabuco, just click here.

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