Brazil branch of Lloyds Bank Plc
Lloyds Bank PIc. of the United Kingdom has received MIGA insurance of $12 million against the risks of currency transfer and expropriation for a shareholder loan to its Brazilian branch, Lloyds Bank of Brazil, to expand its overall lending operations. The loan will provide hard currency to help finance the production of pollution control equipment and domestic goods and services in the agricultural industry. Lloyds Bank of Brazil currently employs more than 900 nationals.