Top 50 Brazilian Financials by Assets

The Top 50 Brazil Financials based on assets held as of December 31, 2008 are listed below. The source of the data is Banco Central Do Brasil which is the Central Bank of Brazil.

The largest 50 Brazilian Financials based on Assets held in R$ thousands (as of December 31, 2008):

Ranked	Bank	Total Assets in R$ Thousands (as of Dec 31,2008)	Number of Branches
1	ITAU	270.144.062	3.718
2	BANK OF BRAZIL	217.093.798	4.39
3	BRADESCO	170.022.827	3.37
4	SANTANDER	147.489.051	2.279
5	CEF	126.624.018	2.069
6	HSBC	47.967.608	931
7	VOTORANTIM	31.252.318	17
8	SAFRA	28.447.588	125
9	NOSSA CAIXA	23.226.622	563
10	CITIBANK	17.322.012	127
11	BNP PARIBAS	11.974.683	4
12	BANRISUL	10.858.318	427
13	CREDIT SUISSE	9.981.786	2
14	UBS PACTUAL	8.296.338	6
15	DEUTSCHE	7.348.374	2
16	BNB	6.922.223	182
17	ALFA	6.659.978	9
18	BBM	6.066.721	6
19	BIC	5.066.765	33
20	FIBRA	3.938.947	14
21	JP MORGAN CHASE	3.795.765	5
22	ABC-BRASIL	3.207.204	4
23	SS	3.188.515	1
24	RABOBANK	3.287.856	13
25	BASA	3.097.895	105
26	BMG	3.113.250	13
27	BANESTES	3.651.749	127
28	SOCIETE GENERALE	2.700.577	3
29	BANSICREDI	3.076.894	5
30	CRUZEIRO DO SUL	2.593.223	6
31	DAYCOVAL	2.852.690	28
32	MERCANTIL DO BRASIL	2.893.794	150
33	SOFISA	2.423.507	19
34	IBIBANK	2.401.496	1
35	BRB	2.348.830	59
36	BARCLAYS	2.226.295	1
37	ING	2.210.618	1
38	BANCOOB	2.192.534	8
39	PINE	1.935.624	13
40	WESTLB	1.640.331	1
41	CLASSICO	1.534.117	2
42	RURAL	1.030.445	27
43	BANIF	921.149	14
44	BANESE	920.147	61
45	INDUSVAL	915.63	11
46	JOHN DEERE	846.278	1
47	DBB BM	804.73	1
48	BTMUB	804.794	2
49	GE CAPITAL	728.245	8
50	INDUSTRIAL DO BRASIL	708.984	5

Source: Banco Central Do Brasil

The largest bank in Brazil is the private-sector bank Itau Unibanco Banco Multiplo S.A. (ITU). This bank, formed by the merger of Banco Itau and Unibanco, has over one hundred thousand employees and 3,718 branches. After reaching a low of $6.70, the stock has nearly doubled to close at $13.63 on April 10th.

The second largest bank is Bank of Brazil (aka Banco Do Brasil) which is state-owned. Though it has more branches than ITU, its asset size is smaller. Last week its CEO, Antonio Francisco Lima Neto, was fired by the President of Brazil, Luiz Inacio Lula da Silva. The reason for his firing was that the bank was charging high interest on loans to consumers. Banco Do Brasil shares do not trade on the US markets. It must be noted that the Brazilian’s central bank name is similar sounding but is called Banco Central Do Brasil.

The third largest bank by assets is Banco Bradesco (BBD), one of the top private-sector banks, and is the main competitor for ITU. BBD reached its 52-week low of $7.40 late last year and closed at $12.25 on April 10th.

Three foreign-owned banks appear in the top ten positions. These banks are the Spain-based Banco Santander (STD), HSBC Bank (HBC) of the UK and the US-based Citibank (C).

Comments

[Amouna:]

I love Brazilian private sector (especially the Commodity sector). The banking sector is becoming increasingly appealing and I might dip some cash into it soon!

Thanks for the info, much appreciated!

Apr 14 06:12 AM

[Robert DiAl...:]

I own some C, BAC, WFC, and JPM. Purchased at good entry points and holding for the next "true" bull run. When is not as important as some time in the next few years. Holding on for the future.

Apr 15 07:02 AM

[Rohan C. Pease:]

I like ITU, Brazil is a gold mine!

Apr 18 01:48 PM

[Rohan C. Pease:]

also to like in Brazil is the utilities like CPL, money makers!!!!!

Apr 18 01:49 PM