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Brazil authorizes Bradesco's $2.2 billion capital increase plan

The logo of Brazilian Bradesco bank is seen on a branch in Osasco financial centre, Brazil, August 3, 2015. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Banco Bradesco SA BBDC4.SA said on Monday it had received central bank permission to raise up to 8 billion reais ($2.2 billion) in fresh capital through a share offering.

In a securities filing, Bradesco said the plan will allow Brazil’s second-largest private-sector bank to increase shareholders’ equity to 51.1 billion reais from 43.1 billion reais currently. Shareholders of record as of April 15 who participate in the plan will be entitled to a premium equivalent to 1 new share for every 10 they held prior to the offering, the filing said.

($1 = 3.6206 Brazilian reais)

Reporting by Guillermo Parra-Bernal; Editing by James Dalgleish

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