Latin America best managed banks 2018: Brazil
Brazil’s banking sector is famously consolidated, but there is certainly a diverse range of analysts’ opinions about which bank is the country’s best managed.
One surprise is the frequency with which Banco do Brasil is cited for excellence in its investor relations team (especially in contrast to its media relations effort), but although the bank is improving its strategy, wider corporate governance issues at the state bank are seen as a weakness.
Analysts also report that Marcelo Barreto’s internal promotion from the IR team to Itaú Unibanco’s treasury department has led to a step back for its investor relations.
Santander Brasil wins plaudits for its new IR team and strategy, but lingering corporate governance issues over asset sales by the listed Brazilian bank to its Spanish parent rankle some who think the bank rode roughshod over minority shareholders.