São Paulo, November 10, 2010 - Banco Panamericano S/A (“Banco” and “PanAmericano”), a financial institution with head offices at Avenida Paulista no. 2240, in the city of São Paulo, state of São Paulo, enrolled in the corporate taxpayers’ registry under number 59.285.411/0001-13, informs that Banco Panamericano’s cash positon was strenghtened with the injection of R$ 2.5 billion into a “shareholder” account kept in its long term liabilties, which in addittion to its present cash brings the overall cash and banks position to R$ 3.8 billion. This injection will preserve the integrity of current shareholders and the bank’s capitalization levels.
Funding and credit operations continue to be undertaken normaly, and credit policies remain unchanged.
The bank is to be managed by market professionals namely executive directors appointed by the Silvio Santos Group’s holding company and by CaixaPar, under the terms of the shareholders agreement originaly signed in november 2009.
The Banco Panamericano and CaixaPar partnership is thus being consolidated allowing us to visualize important progress versus the clients, shareholders and suppliers positions.
Funding and credit operations continue to be undertaken normaly, and credit policies remain unchanged.
The bank is to be managed by market professionals namely executive directors appointed by the Silvio Santos Group’s holding company and by CaixaPar, under the terms of the shareholders agreement originaly signed in november 2009.
The Banco Panamericano and CaixaPar partnership is thus being consolidated allowing us to visualize important progress versus the clients, shareholders and suppliers positions.
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