President of Febraban defends the role of the financial sector in the electoral debate

The president of Febraban (Brazilian Federation of Banks), Isaac Sidney, defended this Tuesday (9) the importance of the banking sector for the electoral debate, and highlighted the role of market expectations for the best conduct of business.

“We are part of one of the most important sectors of the economy and we feel entitled to contribute [com o debate eleitoral]. Let’s hear all the presidential candidates, we started yesterday [com o presidente Jair Bolsonaro (PL)] and the banking sector expects, in these meetings, a clear position from the candidates for president, and that they expose their commitments, their proposals and alternatives for the construction of a more prosperous society”, said Sidney, during the opening of the FebrabanTech event this Tuesday, in Sao Paulo.

The president of Febraban also said that “the electoral process is a unique opportunity that democracy offers to discuss the future of the country, its needs, objectives, priorities and the path to be followed to find solutions to our enormous challenges. “

Sidney said that the elections will be important to advance the reforms “that Brazil so badly needs”.

“The market agents are guided by the economic situation, but also by the expectations that are formed in relation to the future. The best combination of these two variables, situation and expectations, will allow us to cross, with the lowest level of uncertainty, the adverse scenarios. In the end, what should prevail, from the result of the elections, are the concrete actions to face our problems”, said the president of the federation of banks.

Challenges and opportunities brought by new technologies

During his speech, Sidney also highlighted the technological advent for the development of the financial sector and banking penetration in society.

Data cited by the expert point out that Pix has already been responsible for 14 billion transactions, with R$ 7.5 trillion in financial volume, with use by about 118 million individuals and companies and 469 million registered keys.

According to Octavio de Lazari Junior, president of Bradesco, although new technologies bring opportunities to explore new growth fronts, it is also necessary to promote some adjustments within the system, in order to increase security for customers related to the use of Pix.

Adjustments in the limit for making transactions via Pix, and even offering the customer the prerogative of having the tool available or not, are points that still need to be better discussed by market agents, said Lazari Junior.

The adoption of technologies by the financial system “is a journey under construction, and it has a very important learning curve for us to go through”, said the president of Bradesco.

President of BB (Banco do Brasil), Fausto Ribeiro also stated that technological development will allow agribusiness companies to expand their production and level of revenue, but without deforestation also increasing.

“There’s only one way to increase productivity without deforestation, [que é por meio da] technology,” he said.

Ribeiro also demanded that the market in general be more receptive to green projects, to promote the segment and so that, in this way, banks can originate credits in greater volume and offer lower interest rates to rural producers.

The president of BB stated that he assesses that there is “certain hypocrisy” among some economic agents, with charges on banks and rural producers to adopt sustainable practices, but without a counterpart demand from investors for products that finance these activities.