In light of the economic crisis, some financial institutions have been experiencing a downfall in their businesses. However, two companies in Brazil have managed to surpass their competitors and retain their high profits even in light of the crisis – Itau Unibanco (ITUB) and Banco Bradesco (BBD). Both the companies have seen a tremendous increase in their share rate and have witnessed a considerable profit increase on Facebook since 2014. While Itau Unibanco saw a 36 percent increase in their net worth over the past three years, Banco Bradesco saw an increase by 28 percent.
According to the original article, published by CNBC, journalist Igor Cornelsen broke down the workings of these two banks and let out the commercial secrets which these banks have implemented which have contributed to their growth. According to the article published, Brazilian banks in the private sector have managed to give to the customers exactly what they want and have managed to fulfill the demand for banks which offer them a good credit.
The Brazilian economy only has a total of ten major players. These ten major players act as a powerhouse which has contributed to the overall uphaul of the banking sector on Tumblr. Also, the merging of numerous top-tier banks has significantly contributed to the growth of the Brazilian banking sector.
The Brazilian government is now putting into action various policies that contribute to the overall growth and development of the banking sector at https://twitter.com/igorcornelsen. The current finance minister has been working towards the growth of private sector banks, which has led to the overall development of the industry.
Also, Igor Cornelsen also outlines how Brazil’s economy has been going uphill over the years owing to their trade relations with China. Brazil is currently the number one country that China trades with, and thus, this overall investment into the country is one of the reasons the banking sector has been receiving good light in recent years.
Igor Cornelsen also mentioned in his article how the Real is currently an overvalued currency in the world, and that is one of the major contributing reasons for the growth of the banking sector and overall economy of Brazil.