Latin Trade Magazine
Brazil dominates the ranking of Latin America’s 100 biggest banks from Latin Trade magazine.
The top five banks are all from Brazil, while seven of the top ten are Brazilian. All in all, 33 Brazilian banks make the list, accounting for $2.2 trillion in assets, or 67 percent of the total assets of the top 100 banks. They also performed better, with their assets growing at an average of 36.1 percent last year.
State bank Banco do Brasil tops the ranking of Latin America’s biggest banks, with assets of $486.8 billion, an increase of 19.6 percent. Itaú Unibanco follows in second place, with assets of $453.2 billion, a 29.7 percent increase from 2009. Bradesco came in third, with $382.6 billion in assets, which was 31.6 percent higher than in 2009.
However, it was BTG Pactual that showed the strongest asset growth in Brazil last year – a whopping 251 percent – to $44.2 billion. That was the third-highest asset growth in Latin America. As a result, it jumped 20 spots on the ranking – from 33rd place in 2009 to 13th place last year.