BTG Pactual posted record headline numbers while pursuing an aggressive programme of wealth management consolidation, fintech integration and international expansion.
The São Paulo-headquartered bank grew revenues by close to 32% year-on-year to BRL33 billion ($6.38 billion) in 2025, with adjusted net income climbing roughly 36% to BRL16.7 billion and total assets reaching BRL806 billion. Shareholders’ equity rose to BRL70 billion and return on average equity touched 26.9% for the full year, the strongest result in the bank’s history.
Much of this momentum was driven by a deliberate strategy of consolidating Brazil’s fragmented wealth management market. In January 2025, the bank agreed to acquire Julius Baer Brasil, the domestic arm of the Swiss private bank in a BRL615 million deal closed in March. This was followed in April by the purchase of the wealth management division of the boutique JGP, which added a further BRL18 billion in advised assets and brought industry veteran André Jakurski back into the fold as chairman of BTG Pactual’s family office investment committee.
These results are a testament to our client-centric approach, disciplined execution and the strength of our franchise across the world
Roberto Sallouti
“In a challenging market environment, we continued to grow, reaching BRL2.6 trillion in assets and wealth under management, attracting BRL332 billion in net new money and delivering record revenues alongside strong profitability,” says CEO Roberto Sallouti. “These results are a testament to our client-centric approach, disciplined execution and the strength of our franchise across the world. More importantly, they reflect our commitment to building a long-term institution that supports clients, develops capital markets and contributes to economic growth across the region.”
Growing footprint
BTG also carried on with its push into small and medium-sized enterprises through the June acquisition of Justa, a Brazilian payments fintech founded in 2018. Justa’s technology underpinned the October launch of BTG Pay, the bank’s first proprietary acquiring platform, which bundles payment links, sales reconciliation and a card terminal inside the BTG Empresas app used by roughly 500,000 corporate clients. The move marked BTG’s formal entry into Brazil’s BRL3 trillion acquiring market and placed it in direct competition with incumbents such as Cielo, Stone and Getnet.
Geographic expansion proved equally bold. The Federal Reserve cleared BTG’s takeover of New York-based M.Y. Safra Bank in December 2025, paving the way for the group to operate under a full US national banking licence as BTG Pactual Bank NA. The deal enables the bank to take deposits and extend loans directly in the American market after more than 15 years of broker dealer and asset management activity in New York and Miami.
Across the wider region, BTG entered its first Spanish speaking market through a $175 million agreement to buy HSBC’s Uruguay operations and joined a General Atlantic-led consortium acquiring a 24% stake in Grupo Financiero Banamex from Citi for around MXN43 billion ($2.46 million), broadening its presence in Mexico.
Sustainability remained a central pillar of the franchise. BTG Pactual’s Timberland Investment Group passed the $500 million mark on its $1 billion Latin American Reforestation Strategy, focused on restoring roughly 133,000 hectares of native forest and developing an equivalent area of sustainable commercial plantations across Brazil, Chile and Uruguay in partnership with Conservation International. In August, the bank signed a memorandum of understanding with the International Finance Corporation that could mobilise up to $1 billion in joint investments by 2028 for nature-based solutions, Amazon bioeconomy projects and infrastructure financing across the region.
