Brazil's best international private bank 2023: Santander Private Banking
Santander Private Banking Brazil earns its well-deserved win by combining the size and strength of a global firm with local market penetration and expertise. Already distinguished in terms of service scope, the firm still made impressive progress in broadening its offer range in 2022.
A new private credit framework has helped the bank offer a wider range of products and market timings. For clients with a more sophisticated or aggressive risk profile, this extends to more volatile, unrated assets. The bank has taken its selection of equity strategies to more than 20 - giving it perhaps the most comprehensive suite of options in the Brazilian market. Amid widespread volatility, Santander Brazil helped pioneer the use of protected capital structures utilising cash and inflation-linked returns.
For Brazilian clients looking offshore, the main destination for assets is Miami. Many of Santander’s competitors have a branch in the city, but it differentiates itself by having an entire bank. The popularity of Portugal as a destination for expat Brazilians has led Santander to create what it terms a “Brazil – Portugal Corridor”. An exclusive collaboration with Santander Totta gives Santander Brazil unrivalled agility and expertise in providing banking and tax services to customers abroad.
The rewards from Santander’s commitment to digital investment are evident. Customers have a new investments portal that provides detailed calculations and comparisons of their portfolio. Synergies with other parts of the banking group mean Santander now offers a shelf of over 350 digital investment products, in addition to various options for structured transactions. Customers clearly recognise the changes – the bank’s Net Promoter Score rose from 69 in 2021 to 78 in 2022.