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Best bank: Bradesco Best debt house: Banco Itaú BBA Best M&A house: Credit Suisse Best equity house: UBS
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In recent months, Brazil achieved its long-cherished goal of investment-grade status, awarded by both Fitch and Standard & Poor’s. Then there was Santander’s acquisition of Banco Real from ABN Amro, making the Spanish bank the biggest foreign player in the market.
The best bank in Brazil award came down to a close contest between the country’s two leading private local institutions, Bradesco and Itaú. There is little to separate them and both are excellent banks. However, Bradesco’s financials are slightly stronger and it is for this reason that it takes the award.