	royal bank canada brazil unit sees growth royal bank of canada s ry small brazilian commercial bank subsidiary banco royal do canada brasil s a sees opportunities for its own growth with an expected substantial increase in brazilian exports to canada banco royal president michael brennan said they brazilian exporters are very interested in the canadian market because it s an untapped market brennan told reporters after a speech to the brazil canada chamber of commerce brennan said brazil is currently exporting products like paper machinery and ships to canada he said he hopes to see medium term financing facilities for brazilian companies reinstated shortly following an agreement reached in january with international financial authorities brennan estimated brazilian exports to canada totalled roughly mln canadian dlrs in while imports from canada reached about mln dlrs brennan said he expects banco royal profit to increase this year from the three mln u s dlrs reported for fiscal ended september but said he could not predict by how much because of the country s uncertain financial climate brennan said he expects his bank s growth to come from increased exports to canada banco royal is the only canadian owned commercial bank in brazil although bank of montreal has a brazilian investment bank subsidiary he said brennan said he expected brazil to be able to reach an equitable agreement with foreign banks on restructuring its billion u s dlr foreign debt because the brazilian economy is essentially healthy he said he believed brazil might be in a position to resume debt repayments within a year brennan said he could not comment on the impact of brazil s interest payment moratorium on the royal bank of canada reuter 
