22 de diciembre de 2014 / 15:23 / en 3 años

Brazil's Rousseff says state bank Caixa to hold IPO, eventually

BRASILIA, Dec 22 (Reuters) - Brazilian President Dilma Rousseff said on Monday that her administration would hold an initial public offering of state-run mortgage lender Caixa Economica Federal, though she did not foresee this happening soon.

Listing shares of Caixa would allow the federal government to raise much-needed funds as it focuses on improving fiscal discipline and warding off a potential downgrade of Brazil’s credit rating.

“I will (publicly list Caixa), but it is a slow process,” Rousseff told reporters after a press breakfast in Brasilia, without elaborating further.

Caixa is Brazil’s third-largest bank by total assets and the nation’s top issuer of home loans. In September the bank had assets of 1 trillion reais ($377.36 billion), according to central bank data.

$1 = 2.65 Brazilian reais Reporting by Jeferson Ribeiro; Writing by Asher Levine; Editing by W Simon

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