Banco do Brasil to open branches in United States

SAO PAULO, Feb 21 (Reuters) - Banco do Brasil (BBAS3.SA: Quote, Profile, Research), Latin America's largest bank in terms of assets, said on Thursday that it would open a retail bank and a money transfer service in the United States to serve Brazilians living there.

The state-run bank, which is also considering listing its shares on the New York Stock Exchange, said in a statement that it would invest about $44 million to expand into the United States. It expects to start operations there later this year.

Banco do Brasil already has branches in Japan, another country with a large Brazilian immigrant population. (Reporting by Cesar Bianconi; Translated by Todd Benson; Editing by Lisa Von Ahn)