The Banco do Nordeste do Brasil S.A is a multiple financial institution, considered the largest regional development bank in Latin America. It is organized as a mixed economy company with publicly traded capital, where the Federal Government holds more than 90% of its capital.
The bank has as clients institutional agents, economic agents, and individuals, with economic agents classified as companies, cooperatives, and associations. Institutional agents are government and non-government entities. Individuals, in turn, include informal entrepreneurs and rural producers.
Banco do Nordeste is present in more than 2,000 municipalities in the Northern region states, as well as operating in the north of Minas Gerais and the north of Espírito Santo. Currently, the bank is a leader in long-term resource allocation, as well as credit in the area it operates.
Banco do Nordeste do Brasil was created by Law No. 1649 in 1952. The main objective for the bank's creation was to operate in the Drought Polygon, the name given to the perimeter that encompasses the Brazilian territory most affected by long periods of drought.
In 1954, as already provided for in the bank's creation law, the Technical Office for Economic Studies of the Northeast (Etene) was created to organize the bank's early years of operation, and it has been maintained to this day.
As main activities, the technical office is responsible for preparing and disseminating knowledge, both technical and scientific, about the Northeast. In addition, Etene plans, formulates, coordinates, and evaluates the region's policies and programs, focusing on promoting sustainable development.
In 1998, Crediamigo – a productive and urban-oriented microcredit program – was created, and it is now the largest in Latin America. In 2005, the program reached the rural area through the creation of Agroamigo.
In 2016, Banco do Nordeste invested in the creation of a facility, the Hub Inovação Nordeste (Hubine), which supports entrepreneurs developing ideas aimed at overcoming the region's challenges.
