Brazil’s antitrust watchdog Cade is investigating four banks in the country for allegedly creating competition hurdles to digital banking newcomer Nubank, the watchdog said in a statement on Monday.
Brazil's interim government on Tuesday confirmed the lead economist of the country's largest private bank to head the central bank, in a further shift away from the interventionist policies that many blame for deep recession and near double-digit inflation.
The Industrial and Commercial Bank of China Ltd, the world's largest lender by market value, got the green light from Brazilian regulators to operate a subsidiary in the Latin America's largest economy, the lender said on Wednesday. Brazil's central bank approved the license on Dec 19.
Government owned and the largest in the country in assets, Banco do Brasil received this week approval from China’s regulator to open a commercial branch in the country which is Brazil’s main trading partner.
Spain’s leading bank Santander denied any plan to sell its Brazilian affiliate full or partly, as was published in the Sao Paulo media following discussions with Bradesco, another top listed Brazilian bank.
Banco do Brasil, Latin America’s biggest bank by assets, is considering buying lenders in Colombia, Peru and Chile to attract corporate clients and increase business with Brazilian companies in the region. Last month the bank announced the reopening of its branch in Montevideo, Uruguay.
Banco do Brasil, Latin America’s largest financial institution has requested a licence to operate in Uruguay as a commercial bank according to the Brazilian government’s news agency.
Latin America's largest bank by assets, Brazil's government-controlled Banco do Brasil will invest 25 million US dollars in its newly acquired U.S. operations as it continues to roll out its international expansion plan. The announcement follows the signing on Monday of a contract to buy Florida based EuroBank for 6 million US dollars.
Analysts covering Brazil’s economy raised their forecast for GDP growth this year to 7.34%, according to a central bank survey. Economists held their 2011 economic growth forecast unchanged at 4.5%, according to the median estimate in a survey of 100 analysts taken September 3 and published Monday.
Two leading Brazilian banks have agreed to acquire stakes in BES Africa, a holding company belonging to Portugal’s biggest publicly traded bank that makes investments in Africa.