Tag: oligopoly
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Unveiling Brazil’s Stock Market and Investment Fund Landscape: A Guide for Foreign Investors
Introduction:Brazil’s stock market, known as B3 (Bolsa de Valores, Mercadorias e Futuros), and its investment fund landscape offer foreign investors ample opportunities to participate in Brazil’s dynamic capital markets. In this blog post, we will provide an overview of Brazil’s stock market and delve into the investment fund landscape, discussing the main indices, top-listed companies,…
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Itaú to buy Citibank Brazil for US$ 220 million
Itaú has agreed to pay R$ 710 million (approximately US$ 220 million) for the retail operations of Citibank in Brazil. The transaction was announced this morning. Citi primarily serves high-income customers and has 315,000 account holders in the country. In the acquisition, Itaú acquired loan portfolio, credit cards, deposits, asset management, insurance brokerage and the…
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CADE Approves Bradesco’s HSBC Brazil Acquisition with Restricticions
Brazilian anti-trust council (CADE) has approved the acquisition of HSBC Brazil by Bradesco with restrictions. One immediate consequence of the of the restrictions imposed by CADE is that Bradesco is definitely out of the dispute to acquire Citi in brazil, since no new acquisition will be allowed to the bank for 30 months. On top…
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Europe’s Top Banks Are Cutting Losses Throughout Latin America
European banks are on the retreat all across Latin America.Societe Generale SA announced in February that it’s dismissing more than 1,000 workers while exiting the consumer-finance business in Brazil. In August, HSBC Holdings Plc sold its unprofitable Brazilian unit, with more than 20,000 employees. Two months later, it was Deutsche Bank AG’s turn. The German…
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Barclays considering sale of investment banking business in Brazil
After disposing off its non-core assets in Portugal for €175m (£128m, $189m) in early September, Barclays is now considering the sale of its investment banking business in Brazil and is open to talks with potential buyers. The move is part of the bank’s restructuring programme led by new chairman John McFarlane. According to Sky News,…
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Bradesco confirms favoritism and acquires HSBC Brazil for US$ 5.2 Billion
Bradesco has confirmed its favoritism and, in the early hours of Monday, has formalized the acquisition of HSBC’s Brazilian operations, as highlighted by HSBC in its earnings report. The purchase was made for US$ 5.2 billion, or R$ 17.6 billion. The Brazilian central bank was notified last night of the transaction outcome. Thus, the amount to…
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Brazilian Antitrust Council Investigates 15 Foreign Financial Institutions for FOREX Manipulation
Brazilian antitrust council, CADE (Administrative Council for Economic Defense), opened an administrative process to investigate alleged cartel consisting of 15 foreign financial institutions in order to manipulate the foreign exchange market. It is the first antitrust case in Brazil for manipulating rates in the financial market. Some of these banks have been investigated for the…
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HSBC Brazil will be the last bank acquisition opportunity in the country
The purchase of HSBC by one of the three largest private banks in the country will probably represent the last large bank acquisition opportunity in Brazil. In terms of concentration, the union of HSBC mainly with Itaú Unibanco or Bradesco will make the banking concentration reach levels that are already considered a yellow sign by…
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Race for HSBC Brazil: Bradesco is ahead with an offer of US$ 3.4 Billion
HSBC confirmed on Tuesday that will leave Brazil and Turkey, in a restructuring plan that will eliminate 50,000 jobs worldwide. In the dispute by the British bank business portfolio in Brazil, Bradesco took the lead with an offer of $ 3.4 billion by the British bank, ahead of Santander and Itaú Unibanco. HSBC is one of…
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Itaú Unibanco: Largest Private-Controlled Bank in Latin America
Itaú is the second largest bank in Brazil. Only behind Banco do Brasil, which is a government-controlled bank, even though part of its equity is traded at Bovespa. We do not recommend exposure to government-controlled companies in Brazil so Itaú is the largest bank we cover in LATAM. Itaú Unibanco was formed as the merge…