Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____Osasco, São Paulo, Brazil, August 2nd, 2005
Securities and Exchange Commission
Ref.: Bradesco and Lojas Colombo enter a Memorandum of Understanding for a Partnership Creation in Financial Company
Dear Sirs,
Banco Bradesco S.A. (Bradesco) and Lojas Colombo S.A. (Colombo), Brazil’s third largest retailer of electric-electronic products and furniture, with headquarters in the State of Rio Grande do Sul, announce that have signed a memorandum of understanding for the creation of a partnership in a Financial Company which shall have as basis Colombo’s customer portfolio.
The partnership implementation is subject to the final agreements signature and to the approval by the Central Bank of Brazil.
Bradesco and Colombo will be partners in equal parts in the operation, which involves, also, the distribution of banking products and services offered by Bradesco, such as insurance, private pension plans, savings bonds, personal loan and other activities inherent to the operations of Financial Institutions.
Colombo has 365 stores distributed in the States of Rio Grande do Sul, Santa Catarina, Paraná, São Paulo and Minas Gerais, which already operates as Bradesco’s banking correspondent since August/2004. Colombo reached more than 2 million active customers and R$1.4 billion revenues in 2004, and currently has a loan portfolio over R$500 million.
The partnership means an important step in the Companies’ strategy, aiming at scale gains in retail, considering that Colombo operates in a business segment with high growth potential.
| Cordially, | |
| Banco Bradesco S.A. | |
| José Luiz Acar Pedro | |
| Executive Vice President and | |
| Investor Relations Director | |
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BANCO BRADESCO S.A.
| ||
| By: |
/S/
José Luiz Acar Pedro
| |
|
José Luiz Acar Pedro
Executive Vice President and Investor Relations Director | ||
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