US Banks & Local Correspondent Banks
Includes a list of U.S. banks operating in the market; indicates whether Ex-Im Bank offers any country-specific programs.
Last published date: 2019-10-13
According to the BCB, of the top 15 banks in Brazil ranked in December 2017 (latest figure available) by net equity, two are state owned banks (Banco do Brasil and Caixa Economica Federal); five are Brazilian (Itaú-Unibanco, Bradesco, Safra, BTG Pactual and Votorantim); and three are foreign (Banco Santander from Spain, Citibank and J.P. Morgan from the U.S.).
|Country||# of Banks||Banks (ranking)|
|U.S.A.||7||Citibank (12th); JP Morgan (15th); BofA Merrill Lynch (23rd); Morgan Stanley (32nd); GMAC (33rd); Goldman Sachs (39th) and John Deere Bank (46th)|
|Germany||3||Volkswagen, Deutsche Bank, Mercedes Benz|
|Netherlands||3||RaboBank Int’l, ING, CNH Capital|
|France||6||BNP Paribas, Societé Générale, RCI, Crédit Agricole, Cetelem, Carrefour|
|Japan||3||MUFG, Tokyo-Mitsubishi, Sumitomo-Mitsui|
Citibank sold its retail operations in Brazil to Banco Itaú. The sale, approved in August 2017 by the Central Bank, was effective as of May 2018.
Also, on May 7, 2019, the second largest Brazilian private bank, BRADESCO, announced its first international acquisition, the Florida-based BAC Florida Bank, paying approximately $500 million.