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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 Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s second largest private bank, Bradesco, has announced it has purchased HSBC’s operations in Brazil for R$17.6 billion (US$5.186 billion). Although the purchase will include most of HSBC’s business in...
By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL - On Tuesday, June 9th, HSBC bank announced it intends to terminate its activities in Brazil and Turkey, but plans to keep a stake in Brazil to serve large corporate clients....
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian government announced this past week it would be increasing financial institutions’ taxes over net profits from fifteen percent to twenty percent, hoping to raise an additional R$3-4 billion...
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