‘Credito alcool gel’ unblocks Brazil’s deal flow

In stark contrast to previous periods of crisis, Brazil’s private-sector banks have been growing market share this year as the public banks have retrenched. This should translate to a busy deal pipeline as they look to refinance.

The Octavio Café – a round, birds-nest structure that sold delicious coffees and fruit juices at bankers’ expense-account prices (R$10 ($1.79) for an espresso) – was a long-time regular meeting place for those bankers and their clients up and down São Paulo’s main financial thoroughfare, Faria Lima.

Located just outside HSBC Tower, the café closed its doors during the coronavirus pandemic. The current owners say they won’t be reopening until the virus is contained or beaten by a vaccine.

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