Banco do Estado de Sergipe S.A.: Update Following Change in Ratings Outlook to Stable
FINANCIAL INSTITUTIONS CREDIT OPINION 21 March 2017 Update RATINGS Banco do Estado de Sergipe S.A. Domicile Aracaju, Sergipe, Brazil Long Term Debt Not Assigned Type Not Assigned Outlook Not Assigned Long Term Deposit Ba3 Type LT Bank Deposits - Fgn Curr Outlook StableBanco do Estado de Sergipe SA, formerly Banco de Fomento Economico do Estado de Sergipe SA, is a Brazil-based commercial bank that provides personal and corporate banking services. The Bank offers a range of financial products and services, such as personal and real estate loans, saving accounts, debit and credit cards, investment banking, portfolio management, car leasing, pension funds, life and property insurance policies, among others. As of December 31, 2011, the Bank operated 61 agencies and 12 service posts, and its subsidiaries were SEAC - Sergipe Administradora de Cartoes e Servicos Ltda and BANESE Administradora e Corretora de Seguros Ltda. As of March 7, 2012, the government of the Brazilian state of Sergipe held an 89.87% stake in the Bank.
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