As mentioned in this blog on November, 10th, Brazil’s banking system is bracing itself for a wave of consolidation. The last announcement came yesterday as Banco do Brasil, the country’s top state-controlled bank announced it will spend US$2.3 billion to buy a 71.3 percent share in Banco Nossa Caixa SA, owned by the Sao Paulo [...]
Posts Tagged ‘consolidation’
New massive banking merger in Brazil, this time on state-controlled banks
Posted in Banks, Brazil's Economy, tagged assets, Banco do Brasil, banking, Bradesco, Brazil, Brazil's Economy, consolidation, financial markets, global player, Itau, joint-venture, merger, New York Times, Nossa Caixa, public bank, Unibanco on November 21, 2008 | Leave a Comment »
Banks in Brazil: prepare for a wave of consolidation
Posted in Brazil's Economy, tagged banking, Brazil's Economy, consolidation, credit crunch, economic crisis, economic stability, Itau, Nossa Caixa, recession, South America, Unibanco on November 10, 2008 | 1 Comment »
Still about the banking situation in Brazil, news come out everyday about new joint-ventures including heavy weights on the public sector – ie. Nossa Caixa and Banco do Brasil. The Financial Times gave a note about the consolidation process running at full throttle in the country. Brazil’s banks are preparing for a wave of consolidation [...]
