Brazilian bank ‘eyes global market’
Brazilian property investors could be interested to hear that two of the Latin American nation’s largest financial institutions that have merged are now targeting the global market, it has been reported.
Itau and Unibanco yesterday (November 3rd) announced their ambitions to become a major global player and compete with the world’s biggest banks, according to the Brazil Arab News Agency (ANBA).
The news could be of interest to those considering buying property in Brazil as it hints at an economic resilience in the nation.
Pedro Moreira Salles, the chairman of the new banks board of directors, is quoted by the ANBA as saying: "[Itau-Unibanco] is already born as the 17th largest financial institution in the world. It has all it needs to be a successful project."
Meanwhile, the news agency reported this week that the Kuwaiti ambassador to Brazil, Waleed Al-Khandari, has visited a number of key tourist projects in the state of Bahia to evaluate investment opportunities.
