BNP Paribas, through its Cetelem subsidiary, bought Banco BGN, a leader in consigned credit in Brazil, at the end of July.
Dresdner Kleinwort is also seeking an acquisition in Brazil, with rumours that it is in talks with Banco BMG. Other foreign banks that have been tipped as looking to buy include Lehman Brothers, Goldman Sachs and Merrill Lynch. One rumour has linked Lehman to Banco Fator, a mid-sized investment bank, which has emerged as a leading brokerage in the country.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
