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Headline: Brazil Source: Euromoney Date: July 2001 Best bank: Banco Itaú Best debt house: Citigroup/Salomon Smith Barney Best equity house: UBS Warburg Best M&A house: JPMorgan Banco Itaú is undoubtedly the best bank in Brazil, and quite possibly the best-run bank in Latin America. Its figures for the first quarter of 2001 were astounding: a net profit of $310 million and return on equity of 42%. Remember that Banco Itaú is a commercial bank, not an investment bank where returns on equity of 42% might be more achievable. |
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