The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Brazil

BEST BANK
Banco Itaú

BEST BOND HOUSE
Citigroup

BEST LOAN HOUSE
ABN Amro

BEST EQUITY HOUSE
CSFB

BEST M&A HOUSE
Goldman Sachs

Brazil is easily both the toughest and the most profitable banking market in Latin America. In 2004, both Banco Itaú and Banco Bradesco made more than $1 billion in profit, and Bradesco even beat Itaú in both the fourth quarter of 2004 and the first quarter of 2005.

Bradesco is the largest privately owned bank in Brazil, with some $70 billion in assets to Itaú's $49 billion – so the fact that it can only barely make more money than Banco Itaú is an indication of Itaú's continued efficiency and professionalism. Indeed, Itaú had a return on assets of more than 3% in 2004, a figure no other bank even approached.

Itaú has strong competition, of course, and not only from Bradesco: Unibanco has transformed itself into a retail powerhouse, the state-owned Banco do Brasil is also very powerful, and foreign-owned Santander Banespa and ABN Amro Real are formidable competitors. But Itaú is easily the biggest and best wholesale bank in the country, thanks to its 2002 acquisition of BBA-Creditanstalt, and it is now making moves in investment banking as well.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree