Arrest of Brazil Financier Puts Focus on Small Banks

Rain's picture

The New York Times - Simon Romero, 10/24/12

RIO DE JANEIRO — Brazilian authorities have arrested the chief executive of a bank engulfed in an accounting scandal and detained him in prison, a rare step that has focused attention on the weaknesses emerging among an increasing number of small banks there.

Large banks hold exceptional sway in Brazil and are still viewed as solid institutions, even as their profits have declined recently.

To read the rest of this story, visit nytimes.com.

Category: