International Business / The Pacific

Brazilian Bank Loses $42.8 Billion: The 1995 loss at Banco do Brasil contrasts with net income of $109.8 million for 1994 and reflects bad loans and a drop in returns on investments in fixed-income securities because of lower interest rates, President Paulo Cesar Ximenes said. Banco do Brasil’s loss, the equivalent of $15.49 per 1,000 shares, is its worst since the bank’s founding in 1808, Ximenes said. Stock is often quoted in lots of 1,000 in Brazil. The loss was greater than the reported $3.55-billion net worth of the bank, which is Latin America’s largest. Other year-ago figures and a quarterly breakdown of results weren’t immediately available. The value of Banco do Brasil’s net assets at the end of 1995 was $70.8 billion, according to the bank. Deposits totaled $40.7 billion.