Banks in Brazil: an overview

By January 14, 2016Banking

This is an overview of banks in Brazil.  Banks in Brazil use the IBAN numbering system.

When we talk about trade and commerce, we think about banks and accountants, because the two things are inter-related. When it comes to Brazil, the banking sector in the country is booming like many other economic bases. There are many banks, both national and international, that are plying their trade in a rapidly developing country like Brazi.

List of banks in Brazil

  • Banco Bradesco Financiamentos
  • HSBC
  • Banco J Safra S/A
  • Banco do Estado do Rio Grande do Sul S/A
  • Caixa Econômica Federal
  • Banco PanAmericano S/A
  • Banco Itaú
  • Banco Santander
  • Banco do Brasil
  • CitiBank

Banco Bradesco Financiamentos

The Banco Bradesco Financiamentos was founded in the year 1943. Opened its first office in the city of Marilia, Sao Paulo. The bank is currently Brazil’s second largest when it comes to private banks in the country. The current headquarter of the bank is in Osasco, Sao Paulo at the building Companhia Cidade de Deus. Being in business in Brazil for almost 7 decades is no mean feat, and one cannot do that unless it has some merit. Similarly, the banco Bradesco Financiamentos has acquired several of the most significant institutions in Brazil, like Banco do Estado do Maranhao and Banco Morada, and several others. To add to that, the bank has also been successful in taking over the charge of operations for American Express Credit card in Brazil. The Banco Bradesco Financiamentos has also been good in the numbers game, with 1.4 million shareholders, 95248 employees countrywide, and 3235 offices throughout the nation.

Caixa Econômica Federal

The Caixa Econômica Federal initiated business way back in the year 1861. It is the bank owned by the government of Brazil and is the sole bank in the country with FGTS, PIS and the payment unemployment insurance. Apart from that, it also looks after the government’s interest in Programa Minha Casa and Minha Vida. As far as the numbers game is concerned, the bank has 2229 offices situated in the country, 10954 casas lotericas and 81500 employees throughout the nation.


HSBC is an international commercial cum investment bank that is organized within 4 factions, that are; Commercial banking, Global banking and markets, personal financial services and global private banking. Right now, HSBC has representation in around 87 countries and in Brazil, it is present since 1997. Its current headquarter is located in Curitiba. In the numbers game its performance are off the chart, with 933 offices throughout the country and 25122 employees.

Banco J Safra S/A

Banco J Safra is famous in Brazil for the fact that all its clients are elite. Operating in Brazil since 1955, it’s based in Sao Paulo with over 100 offices throughout the nation. The numbers support its ranking as a major banking firm in the country. As of now, it has a century of banks spread throughout the country, with 5605 employees working in them.

Banco Itaú

The Banco Itaú purchased Unibanco in the year 2008, since then its market value has skyrocketed 120%. This made it a valuable member of the top ten banks in Brazil. Banco Itaú is not just famous in Brazil, but it is also pretty well known in whole South America. It is based in Sao Paulo. Currently they have more than 4500 offices and 14.5 million clients. And being the conglomerate that it is, it employees more than 190000 employees.

Banco do Estado do Rio Grande do Sul S/A

Based in Porto Alegre, the bank has branches in 364 cities. Banco do Estado is a state owned bank and has 438 branches and 500 ATMs throughout the country. The bank also has 9762 employees working for it.

Banco PanAmericano S/A

Founded in the year 1969, the bank has taken its development to the next level gradually. Now it has 237 offices, 2425464 clients and 3Million credit cards.

Banco Santander

Initiated in 1991, the bank now has 1897 offices, 7119 ATMs and more than 6.7 million clients. Currently its total assets amount to more than $222 Billion.

Banco do Brasil

The largest bank in Brazil on the basis of total assets, the banco do Brazil has its headquarters in Brasilia. The bank was founded in 1808 and is owned by the Government of Brazil. The bank has more than 5000 offices, 40000 ATMs, and 110000 employees.


The world renowned Citibank is headquartered in Sao Paulo since 1915. Currently it is operating in 21 out of the 26 Brazilian states. Currently they have more than a 100 offices, 11500 ATMs and more than 2000 employees.

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