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By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s largest private bank, Itau Unibanco, announced on Saturday (October 8th) its purchase of Citibank’s retail operation in Brazil for R$710 million (approximately US$220 million). Citibank's retail operation in Brazil...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Although large financial institutions in Brazil, such as Itau, Unibanco and Bradesco registered billion dollar profits last year, the small and medium sized banks in the country are struggling to...
By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL – The Brazilian Central Bank has raised interest rates to a two-year high in a bid to control growing inflation. The organ signaled to the country’s banks that it is ready...
Opinion, by Doug Gray, Senior Contributing Reporter RIO DE JANEIRO - Shortly after carnival in the Sendas at Largo do Machado, I witnessed a group of Americans trying unsuccessfully to withdraw money from a huddle of four cash machines by...
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