Brazilian Development Bank (BNDES) President Dyogo de Oliveira raised the lender’s equity divestment target to
R$12 billion from R$10 billion this year. The bank has already shed R$6 billion in stakes, including R$3.7 billion in
Petrobras stocks and R$1.4 billion in Eletropaulo stocks. Mr. Oliveira expects the reduction of uncertainty after the
electoral period to not only help it divest more stakes, but also expand its disbursements. Loan consultations rose
2% in the year to August from the same period of 2017 to R$69.8 billion, but disbursements fell 14% in the period
to R$38.8 billion.