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 ‘Itau’
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 [...]
Brazilian merger creates largest bank in South America
Posted in Brazil's Economy, Business, tagged AFP, banking, Brazil, credit crunch, crisis, Financial Times, Itau, joint-venture, Latin America, media, Mercosur, merger, The New York Times, The Wall Street Journal, Unibanco, washington post on November 4, 2008 | Leave a Comment »
Here’s a quick news round up, about the largest merger in the Brazilian banking history. Itau and Unibanco have announced a joint-venture yesterday creating the largest bank in Latin America – arguably the first major banking player in Latin America – combining about $260 billion in assets. The new Itau-Unibanco has also already announced investments [...]
Brazil’s top banks report large profits
Posted in Brazil's Economy, tagged Bradesco, Brazil, Brazil's banks, Brazil's Economy, Brazilian real, crisis, financial markets, Itau, meltdown, private sector banks, profits, strong, turmoil on October 27, 2008 | Leave a Comment »
Fresh news from Reuters reveal that the Brazilian banks are in extremely good shape, thank you very much… Brazil’s two largest private-sector banks reported strong third-quarter earnings on Monday and said they would continue to take advantage of the current market turmoil to snap up loan portfolios from smaller rivals in distress. Banco Bradesco (BBDC4.SA: [...]
