Tag Archives: Itau

Brazil’s banks face paradox of worsening asset quality in a deleveraging corporate sector

Brazil’s banks are facing an apparent paradox: the level of corporate leverage has improved markedly in the past year while delinquency levels have risen and non-performing loan (NPL) formation remains at high levels. These are the main findings of a … Continue reading

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UBS rebuilds in Brazil with acquisition of Consenso

The acquisition by UBS of a majority stake in Consenso, Brazil’s largest multi-family office, is a significant step in the Swiss bank’s growth strategy in the country. Since 2010, UBS has been plotting its return in Brazil, following its sale … Continue reading

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Brazil’s XP chooses a road often travelled: selling to Itaú

Brazilian brokerage firm XP Holding Investimentos has pulled its IPO in favour of selling a large minority stake to Itaú. The announcement came just days after XP had filed for an IPO that was expected to raise between $1.5 billion … Continue reading

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Santander Brasil focuses on its goals, not the misses

Angel Santodomingo, Santander Brasil’s CFO, has had a ringside seat for the latest round of consolidation in the country’s retail banking sector. As HSBC and then Citi put their Brazilian retail operations up for sale, the Spanish-headquartered bank (although it … Continue reading

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Latin America: Brazil’s central bank attacks ‘spread bancario’

Ilan Goldfajn, president of Brazil’s central bank, is seeking to lower the very high credit spreads charged by the country’s banks to its clients in the ‘free market’ credit segments. Goldfajn tells Euromoney, in a wide-ranging interview that will be … Continue reading

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Private banking: Brazil’s locals consolidate and fight for offshore

The hoped-for flows onshore from last year’s amnesty on offshore wealth have failed to materialise, so far. Meanwhile, Citi and HSBC have sold up. So where did a 15% increase in assets under management come from? Paulo Corchaki, head of … Continue reading

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Brazil extends successful offshore wealth amnesty

Senior private bank professionals in Brazil expect that the extension to the amnesty on undisclosed offshore assets will lead to further inflows – for the government and private banking industry – in 2017. The initial deadline of the end of … Continue reading

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