Banco Itaú is planning to close its operations in Argentina and is already in negotiations with Banco Macro S.A. for a buy-over, it was reported in Buenos Aires Tuesday.
Brazil’s stock exchange Bovespa is facing a loss in market share estimated at as much as 30% by HSBC Holdings Plc and Banco Itau BBA SA as the nation considers boosting competition among trading platforms.
Banking giant HSBC Holdings PLC said on Thursday it is in talks on a possible sale of its operations in Colombia, Peru, Uruguay and Paraguay
The president of Brazil’s private bank Itau brushed aside risks of a credit bubble in the country and underlined that sustained economic growth will be rewarded by an expansion of between 15% and 20% in its credit portfolios in 2011.