Articles
In 2018, Banco do Brasil contributed R$20.4 million to interest representatives, trade associations and tax-exempt groups. This corresponds to 0.012% of the Bank’s gross revenue.
Total Contributions (1) (R$ million) | 2015 | 2016 | 2017 | 2018 |
Lobbying, Interest Representation or Similar | 13,138 | 15,109 | 24,131 | 18,314 |
Local, Regional or National Political Campaigns/Candidates | 0 | 0 | 0 | 0 |
Trade Associations or Tax-Exempt Groups | 1,150 | 1,313 | 1,925 | 2,062 |
Other (e.g. spending related to ballot measures or referendums) | 0 | 0 | 0 | 0 |
Total Contributions | 14,287 | 16,423 | 26,056 | 20,375 |
The most significant contributions totaled R$18.7 million (approximately 90% of the total) in 2018, and were allocated to interest representation entities:
- Brazilian Federation of Banks (FEBRABAN – Federação Brasileira de Bancos) – Is the main entity representing the Brazilian banking industry. It is a not-for-profit association with a commitment to strengthening the financial system and its relations with society, while contributing to Brazil’s economic, social and sustainable development (https://portal.febraban.org.br) – R$16.5 million;
- Brazilian Association of Credit Card and Services Companies (ABECS – Associação Brasileira das Empresas de Cartões de Crédito e Serviços) – Operates in the card market since 1971, supports the sustainable development of the sector, and aims to represent the electronic payment industry, assuring the interests of its members and contributing to the development of the market and society (www.abecs.org.br) – R$1.3 million; and
- Brazilian Association of Real Estate Credit and Savings Institutions (ABECIP – Associação Brasileira das Entidades de Crédito Imobiliário e Poupança) – Aims to defend the rights and interests of the associated entities, and to collaborate in the development and stimulate the improvement of the Brazilian Savings and Loans System (SBPE – Sistema Brasileiro de Poupança e Empréstimo), Housing Mortgage System (SFH – Sistema Financeiro de Habitação), the Real Estate Financing System (SFI – Sistema de Financiamento Imobiliário) and of the National Financial System (SFN – Sistema Financeiro Nacional) (www.abecip.org.br) – R$962 thousand.
The purpose of these institutions is to strengthen the financial system and its relations with society and contribute to the economic and social development of the country, as well as influencing legislative activities and chambers of commerce, trade boards, etc. These entities also play an important role in the ongoing improvement of banking system productivity, while reducing and controlling risk levels; in increasing the efficiency of financial intermediation in order to increase the credit supply and reduce its cost; and in creating conditions that allow society increasing access to financial products and services. They are also responsible for leading and disseminating studies and research on the financial system, aimed at its regulatory and operational improvement.
As provided in our Code of Ethics and Standards of Conduct, BB does not finance political parties or candidates for public office in Brazil or in any other countries in which it operates.