Photo: Banco do Brasil / Disclosure
Fausto de Andrade Ribeiro, the new president of Banco do Brasil, today sent a letter to the institution’s employees.
In the text obtained by The Antagonist, he says he will be committed to running the bank “Offering adequate returns to our shareholders, acting in an integrated and synergistic way with the guidelines of its controller, the Federal Government, and contributing to the development of the country ”.
He promises respect for the “Our Statute, to our solid corporate governance, good market practices and followers of the rigors of our laws ”.
The new president admits the current market challenges and has made commitments, for example, “Accelerate digital transformation and innovation, to deliver the best experience to our customers”. He also spoke of “Full commitment to austerity and efficiency in the management of expenses and investments” is on “Carry out divestments and corporate reorganization in businesses with low complementarity”.
Fausto de Andrade Ribeiro also said that “We will keep the current rules of distance work during the pandemic”.
Here is the full text:
My professional training and my character were shaped by BB. Since the first years of my life I have been involved in the ethics, honesty and technical rigor of this institution.
My father, Vilmar Valim, a retired employee of the Bank, is my reference for professionalism, ethical posture and commitment to Banco do Brasil, as well as the colleagues and bosses with whom I reinforced my technical knowledge and BB culture.
I take this moment to thank my dear mother, Sonia Carolina, who is fundamental to my understanding of life, human respect and my professional development, and to my wife, Camila, who is my foundation and source of unconditional support.
I am very proud of my professional career in 33 years at Banco do Brasil, built day by day. I took office at an agency in Planaltina (Goiás), together with my twin brother, Flávio Ribeiro, and throughout my career I have assumed positions of great complexity and responsibility.
Banco do Brasil, therefore, allowed me to live and live unique experiences, due to the most different scenarios, many of them with challenges that life in the Organization posed to me, in Brazil and abroad.
I remember the teaching of a former president who is also an employee of this house, who did a lot for the Bank: “being part of BB’s technical staff is much bigger than a professional option, it is a life decision”. And this is how I think.
I am aware that this great institution, the heritage of all Brazilians, with 212 years of experience, is facing enormous challenges. For this reason, together with all BB colleagues, I am committed to leading the Company in fulfilling its mission, offering adequate returns to our shareholders, acting in an integrated and synergistic manner with the guidelines of its controller, the Federal Government, and contributing for the development of the country. It is on this journey that we will all follow, respecting our bylaws, our solid corporate governance, good market practices and following the rigors of our laws.
Banco do Brasil is from the market and it is from Brazil!
IS FROM THE MARKET, is listed on the stock exchange, has to be profitable, competitive and efficient when serving more than 65 million customers in Brazil and abroad; and
IT IS FROM BRAZIL, because each Brazilian is a partner of this Bank, which makes us historically committed to the country’s economic and social development.
It is from this union that our UNIQUE IDENTITY arises and where our strength comes from.
It will be essential to take care of Banco do Brasil’s commitment to millions of individual and corporate clients, as well as to our shareholders, from all parts of the country and abroad, who trust resources and investments in strength, creativity and capacity to generate income. value of this Company.
That is how Banco do Brasil has always helped to write the history of Brazil’s growth in more than two centuries. It is the only national institution that has gone through all periods of history, since the Empire, facing and overcoming crises, with tenacity and resilience, based on the strength of the brand, its reputation and the ability to innovate, to compete in the market and deserve the respect of millions of Brazilians.
The environment is challenging
The banking industry is experiencing challenging times of various kinds, both in terms of market share strategy, with new highly competitive agents, and in changing the structure of its operations to anticipate ongoing technological innovations.
Examples of this new world are the fintechs, the Pix system, and open banking, which require new business models in an increasingly complex financial environment.
It is non-negotiable to seek efficiency, growing profits, profitability compatible with the main financial institutions. A competitive Bank at the service of the development of Brazil, promoting the best experience for our customers and an adequate return for shareholders, controlling shareholders and minority shareholders.
Our structuring initiatives
In this sense, we will concentrate efforts on structuring initiatives, such as:
– Accelerate digital transformation and innovation, to deliver the best experience to our customers;
– Seek the integration of all company channels (physical and digital), guaranteeing our customers a unique experience (omnichannel vision);
– Strengthen the Bank’s profitable business lines, seeking to expand the customer base;
– Full commitment to austerity and efficiency in the management of expenses and investments;
– Prioritize the agribusiness value chain, from large agro-industrial conglomerates to small producers and family farmers; micro and small companies – the main entrepreneurial segment that generates jobs and income in the country; credit to individuals – to expand the offer to account holders and non-account holders; and foreign trade – to increase access and insertion of small and medium-sized companies in foreign trade, both in exports and imports;
– Make strategic alliances and partnerships to expand competencies that allow the expansion of the Conglomerate’s results;
– Conduct divestments and corporate reorganization in businesses with low complementarity;
– Extend the performance of the Banco do Brasil Foundation, attracting private and public partners for structuring programs in the areas of education, health and social assistance;
– Invest in high performance training, in Brazil and abroad, to further qualify our young managers and executives; and
– Valuing people, rescuing “pride in being BB” and increasing talent retention.
I am convinced of the invaluable value of our employees, trained and committed, and I know that our shareholders and society demand even more from all of us. I am also convinced that the Bank is always far above individual interests.
I, the vice-presidents and directors must work closer to the clients, and our teams in the superintendencies and agencies, in order to speed up the agenda that we want to implement.
I give special recognition to the employees of the branch network, who are always fundamental to the achievement of Banco do Brasil’s strategic objectives. Your dedication to the front line of service during the pandemic, ensuring the continuity of the provision of essential services to our customers, is an example of commitment and a source of pride for all of us.
We will maintain the current rules of distance work during the pandemic, and we will continue to advance in studies to assess the best use of the home office in the future.
At that moment, I sympathize on behalf of all of us in the “BB family”, with all the families of the victims of the pandemic and with the countless health professionals who work throughout the country.
It is a moment of unity for all of us, colleagues at BB. If there is a differential that society respects in this Company, it is the preparation, professionalism and dedication of Banco do Brasil employees. We count on all of you to lead the Company together in this transformation that the new times demand.
Thus, as in countless events in our history, Banco do Brasil will once again be a protagonist in the path of resuming economic growth and development in the country.
I renew our vocation here:
BANCO DO BRASIL IS MARKET AND IS FROM BRAZIL!
I thank God for this moment and my thanks to everyone.
Fausto de Andrade Ribeiro
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