Brazil - Brazzil Mag - Ciao, Bradesco. Brazil's Largest Private Bank Is Now Called Itaú
Advertisement
  Home Sunday, 29 November 2009 
Main Menu
Home
News
Back Issues
Advertising
Contact Us
Brazil Forum
Magazine
Brazzil Classic
Yellow Pages
Classifieds
Images
BrazzilMag Newsfeed
Custom Search
Amazon Body Care

BetterTrades is here to provide the best stock market education and coaches. Freddie Rick is here to teach you about trading and investment .
--------------

-------------
Brazil /Organic personal skin care wholesale / Brazil
--------------
Using your phone overseas
Who's Online
We have 162 guests online
Latest News
Statistics
Members: 494
News: 11484
Web Links: 0
User Menu
Your Details
Submit News
Check-In My Items
My Comments
Login Form





Lost Password?
No account yet? Register
Most Read
Related Items
Contribution
Have you got news?

Do you have news, comment or story on Brazil you want to share with Brazzil? Just send it our way to brazzil@brazzil.com.

 
The Latest from Brazzil Magazine
Home
Ciao, Bradesco. Brazil's Largest Private Bank Is Now Called Itaú PDF Print E-mail
Written by Francesco Neves   
Monday, 04 December 2006

With assets reaching US$ 93.283 billion (201.261 billion reais) Itaú has become Brazil's number one private bank losing only to Banco do Brasil, which has  US$ 129.979 billion (281.615 billion reais) in assets.

A Brazilian Central Bank survey released, yesterday, December 4, revealed the new ranking based in data from the end of September.

For decades Bradesco had been the incontestable heavyweight champion among Brazilian banks.

Bradesco, with US$ 90.7017 (195.680 billion reais) in assets has now been left behind together with Caixa Econômica Federal (Federal Savings Bank) whose funds sum US$ 92.314 (199.212 billion reais).

Until June, the Banco do Brasil came in first, followed by Caixa Econômica, Bradesco and then Itaú. The decisive factor in this jump was Itaú's acquisition of BankBoston's Brazilian operations. Announced in early May, the purchase was only concluded in August.

The bank of the Setúbal family (patriarch Olavo Setúbal, 83, is the active chairman and son Roberto Egydio Setúbal is the CEO) was created in 1945 as Banco Central de Crédito, which changed its name later to Banco Federal de Crédito.

The bank started in downtown São Paulo, on January 2. One year later it had added two branches (in Campinas and São João da Boa Vista in the interior of São Paulo) and counted on a staff of 22. This number has now risen to over 50,000.

Hits: 6421
Comments (3)Add Comment
Observer
written by Stephen, December 05, 2006
Over 50,000 employees and the service is still horrible! Ask a manager for assistance and even they don't know all the product the bank offers.
report abuse
vote down
vote up
Votes: +0
...
written by Rick, December 05, 2006
"Assets" may be open to interpretation and market vagaries (Bill Gates is worth 45 billion, no, this year 52 billion; no, 49...")
Whereas number and location of bank agencies is also a factor and easier to pin down.
report abuse
vote down
vote up
Votes: +0
Heavyweight...in Brazil.....
written by ch.c., December 06, 2006
but such a small bank overall Internationally !

And US$ 93 billions of assets, after the merger, with 50'000 employees, just show how
inneficient the bank is on the "assets per employee" metric, the bank is !

And to Rick, sorry but "assets" are not open to interpretation as you may suggest !
It is a metric of assets minus liabilities = net worth, metric that is precisely disclosed in all annual/quarterly financial reports !
While the number of agencies is worthless, since you may have thousands of small agencies in small villages and large agencies in large cities !
report abuse
vote down
vote up
Votes: +0

Write comment
quote
bold
italicize
underline
strike
url
image
quote
quote
smile
wink
laugh
grin
angry
sad
shocked
cool
tongue
kiss
cry
smaller | bigger

security code
Write the displayed characters


busy




Reddit!Del.icio.us!Facebook!Slashdot!Netscape!Technorati!StumbleUpon!Newsvine!Furl!Yahoo!Ma.gnolia!Add this social bookmarking functionality to your website! title=
 
< Prev   Next >
Brazzil Magazine on Twitter


Visit Brazzil Social with Video, Music and Chat


Home
Brazzil Magazine - Since 1989 trying to understand Brazil
  • Poor Women from Northeast Brazil Learn Joy of Meeting and Helping Each Other


    Joined hands The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area.

  • Ahmadinejad's Visit: Iran, Honduras and Brazil's Hypocrisy in Dealing With Them


    Ahmadinejad and Lula The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy.

  • Lula Is About to Fulfill His Wish of Getting His Good Friend Chavez in Mercosur


    Lula and Chavez On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil.

  • Denying Education is the Other AIDS. And Brazil Is Guilty of Inflicting It


    Children from a Diadema band Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms.

  • Child Labor Went Down in Brazil, But 5 Million Underage Workers Are Still Way Too Many


    Child labor in Brazil One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis.

  • Some Humility Would Do Lula Good. On Human Rights Brazil Has Long Way to Go


    A prison in Rio de Janeiro, Brazil On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking.

  • Brazil's Amazon Rainforest Policy Is a One-Way Road to Disaster


    Trasamazonian road in BrazilDepletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse.

  • Geisy, Brazil's Miniskirt Student, Should Try US College Next Year


    Geisy Arruda from BrazilGeisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.

  • Vigilante Groups in Brazil Trump Drug Gangs and Become Rio's New Authority


    Brazilian favela in Rio The push of vigilante groups in Rio de Janeiro's favelas (shantytowns) in the last three years is the most important and alarming information of the just-released study by the Rio de Janeiro University's Violence Research Center (Nupev-Uerj).

  • Brazil Police Use Press Coverage as Green Light to Kill and Invade Houses in Rio


    Rio police in a favela A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17.  Three policemen died and another two were injured.  This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.