Bradesco, Brazil's second-largest private bank is ceasing operations in Argentina. Mainly a commercial bank that works with corporations and foreign trade, Bradesco joins a long list of companies that stopped making business in Argentina and have left or are leaving.
JPMorgan Chase & Co (JPM.N) has reached an agreement with Brazil’s Banco Bradesco SA (BBDC4.SA) to potentially transfer its private banking clients to the Brazilian lender, according to a document filed by Bradesco.
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 Banco Bradesco SA agreed to buy HSBC Holdings Plc's Brazilian unit for a surprisingly high 17.6 billion reais ($5.2 billion), narrowing the gap with larger rivals while boosting its base of affluent customers in Latin America's largest economy.
Brazil's currency, the Real, tumbled on Thursday after the government announced it would slash its fiscal savings goals for this year and next, raising investor fears that the country may lose its investment-grade credit rating.
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.