Yara Aquino
Repórter da Agência Brasil

Brasília - A survey by the Federal Mortgage and Savings Bank (Caixa Econômica Federal) (Caixa)shows that last year the balance of its passbook savings accounts rose to over US$23 billion, an increase of 8.6% , compared to 2004.

The number of accounts was also up. In 2005, 3.9 million savings accounts were opened, bringing the total to 29 million. For the sake of comparison, in 2000, the Caixa had 13.6 million savings accounts.

Caixa spokesmen say the institution's target for 2006 is to have 32 million savings accounts with US$25 billion.

Translation: Allen Bennett