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The Ever-Changing Brazilian Banking Industry: Consolidation and opportunities - January 2009 |
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The year 2008 will be marked as a milestone for the banking segment in Brazil. Banco Itaú and Unibanco, the second and fourth largest non-public banks, joined forces to form not only the largest bank but also the fourth largest conglomerate in Latin America. This strategic union radically transforms an already highly-competitive sector that will see further consolidation in coming years.
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