Brazil is considered an emerging global power and classified by the World Bank as an upper-middle-income economy.
In addition, the country has the eighth largest Gross Domestic Product (GDP) in the world, being the largest economy in Latin America.
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Thus, the general financial situation of the country shows good numbers compared to the world economy and financial companies, since the banks have large assets — goods, values, credits and rights.
Evaluating the largest financial institutions in the country, find out which are the 15 largest banks in Brazil.
Banco Itaú Unibanco S.A. is at the top of the list of the largest financial institutions in Brazil. This bank was founded on November 4, 2008 and currently has subsidiaries in several countries of the South America.
In addition, it is present in all regions of Brazil, with several credit and financing opportunities.
Banco do Brasil S.A. (BB) is one of the most notable banks in the country. It was founded on October 12, 1808, in Rio de Janeiro.
The bank has more than 4,700 branches throughout the country.
It is currently a mixed capital company with the Federal Government of Brazil, which holds 50% of the bank's shares.
Banco Bradesco S.A. is a national financial institution headquartered in state of São Paulo.
It was founded on March 10, 1943 and competes with Itaú and Banco do Brasil for the post of largest financial institution in the country.
It is present in all municipalities in the country and, in 2010, it was the only private bank to be located in all these regions.
Caixa Econômica Federal (CEF) is a public financial institution, with administrative autonomy and assets, managed by a state agent.
The bank was founded on January 12, 1861, by Emperor d. Pedro II in the state of Rio de Janeiro. Currently, it has its headquarters located in the Federal District.
Banco Santander (Brasil) S.A. is a subsidiary institution of Banco Santander in Spain.
It entered into operation in the Brazilian market in 1982, when its national foundation took place in the city of São Paulo.
It is the third largest private bank in Brazil and is present in all municipalities in the country.
Banco Safra S.A. It is the third largest private equity bank in the country. It belongs to the Safra Group, which has reach and presence in 24 countries.
The group was created in the context of the growing financial and trade movements between the main cities of Europe and the Middle East in the 19th century.
The group's first headquarters were in Beirut, Lebanon. Years later, the bank was established and spread throughout the countries of Europe, U.S and Latin America.
BTG Pactual is a national institution founded in 1983. It is known and highly respected for being the largest independent investment bank and asset manager in Brazil.
The bank's headquarters are in Rio de Janeiro. However, it has offices in global financial centers such as New York, London and Hong Kong.
Furthermore, BTG Pactual is one of the largest forest asset managers in the world.
Sicoob, Sistema de Cooperativas de Crédito, was founded in 1997 and is currently the largest cooperative financial system in Brazil.
It has around 2,800 points of service and 4.3 million members. Thus, it manages to establish itself throughout the country.
Banco BV is the former Banco Votorantim, founded in 1988. It was reformulated based on a partnership between Banco do Brasil and Votorantim S.A. Thus, the shares are divided by 50% for each of the institutions.
It has a range of services throughout the country, being considered the 9th largest bank in Brazil.
The Sistema de Crédito Cooperativo is a company with a cooperative society system, founded on December 28, 1902.
It is present in 23 states of Brazil and in the Federal District. It has over 4 million members and is the first to set up such a system in Brazil.
Banco do Estado do Rio Grande do Sul S/A was founded on September 12, 1928 in Rio Grande do Sul.
It is present mainly in the regions of Rio Grande do Sul and Santa Catarina, with more branches in other states.
Citibank is a multinational financial services company headquartered in the United States.
However, in 2016, Itaú paid 710 million reais for the purchase of Citibank's retail operations in the country. Therefore, Citibank Brasil is acquired by Itaú Unibanco.
Banco do Nordeste do Brasil S.A. is an economic company with mixed capital, in which the Government of Brazil holds 51% of the shares.
It was founded on July 19, 1952 in the city of Fortaleza, where it has its headquarters. The main characteristic and purpose is to promote the sustainable development of the Northeast Region.
J.P Morgan is an American bank, but has operated in Brazil for 50 years.
It is quite present in cities such as São Paulo, Rio de Janeiro, Curitiba and Belo Horizonte.
Banco BNP Paribas Brasil is part of the BNP Paribas Group, of French origin and has been present in the country since 1950.
The institution's main business areas in the country are asset and wealth management.
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