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UPDATE 1-Brazilian development bank BNDES reports record profit

(Adds next divestitures)

RIO DE JANEIRO, March 12 (Reuters) - Brazilian development bank BNDES said on Friday it made a record high profit of 20.7 billion reais ($3.7 billion) for 2020, up 19% and boosted by sales of stakes in large Brazilian companies.

The sales of equity stakes, including in oil company Petroleo Brasileiro SA, miner Vale SA and pulp maker Suzano SA, raised more than 45 billion reais, CEO Gustavo Montezano said.

The bank plans to sell its stake in state-controlled utility Companhia Paranaense de Energia, known as Copel, in the first half of this year.

BNDES will also sell up to 6 billion reais in Vale’s local bonds during the second quarter, Montezano added.

He said the bank shifted its strategy in 2020 and for the first time lent more to small and medium companies than to corporates.

Total lending rose 17% to 64.9 billion reais.

$1 = 5.5721 reais Reporting by Rodrigo Viga Gaier in Rio de Janeiro; editing by Jason Neely and Susan Fenton

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