Wachovia Completes Acquisition of Brazilian Bank

The $80 million-asset bank, Banco Portugues do Atlantico-Brasil S.A., based in São Paulo, Brazil, formerly a subsidiary of Banco Portugues do Atlantico S.A. in Lisbon, Portugal, has been renamed Banco Wachovia S.A. The addition of Banco Wachovia, which will continue its trade finance focus, is part of Wachovia’s global services strategy of providing services to corporate customers conducting business outside of the United States.

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