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Banco do Brasil signs R$2.3 billion contract with Correios

Banco do Brasil reported that it signed a R$2.3 billion contract with Correios to provide conventional, special and telematic postal services, nationally and internationally. The agreed contract will be valid for five ye...

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Banco do Brasil signs R$2.3 billion contract with Correios
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Banco do Brasil reported that it signed a R$2.3 billion contract with Correios to provide conventional, special and telematic postal services, nationally and internationally. The agreed contract will be valid for five years.


According to the bank's statement, the decision was taken independently, observing internal regulations and the competent authorities.


The bank also said that a price-taking procedure was not carried out with third parties due to the unfeasibility of competition verified in the specific case, since the majority of the services demanded are subject to the postal monopoly exercised by Correios, representing approximately 97.84% of the bank's postage expenses.

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BB stated that it adopted procedures to ensure the adequacy of the operation, including technical analysis, legal evaluation and contractual formalization.


Post Office Crisis
The Post Office is going through a restructuring process. At the end of last year, the state-owned company took out a R$12 billion loan from five banks, including Caixa Econômica Federal and Banco do Brasil.


In the first quarter of 2026, the company recorded a net loss of R$3.158 billion, a significant increase compared to the loss of R$1.725 billion recorded in the same period of the previous year.

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The institution's accounting report attributes this performance to structural and market factors. The company has been facing a persistent reduction in revenue from traditional postal services, coupled with increased competition in more profitable logistics segments, such as e-commerce.



Source: CNN

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