Banestes Explained

Banestes S.A. - Banco Nacional do Estado do Espírito Santo
Type:Sociedade Anônima
Location:Vitória, Brazil
Key People:Michel Sarkis, (CEO)[1]
Num Employees:2,358
Industry:Finance and Insurance
Products:Banking

Banestes (Banco do Estado do Espirito Santo) is Brazilian state owned bank responsible for the public execution of loans for the state of Espírito Santo, it is one of the state's major instruments of economic development.

The bank was established in 1937, and has operations outside its home state and an office in São Paulo. It is one of the few state banks that survived a wave of privatisation and mergers that occurred in the later part of the 20th century.

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Notes and References

  1. News: Banestes has a profit of R$ 38.45 million in the first quarter of 2017 . May 5, 2017 .