After having offered incredible promise, Latin American banks have slowed down to a steady tempo over the last couple of years owing to political upheaval and the crashing prices of commodities. The future might appear bleak but certain major banks are hoping to make a heroic come back and enjoy the glory they once basked in the abundance of.
In case you have wondered which bank to trust, here is a quick rundown to help you make an informed choice.
Top 10 Latin American banks
- Banco Do Brasil – This Brazil government-controlled bank sits on an asset of $451 billion. The bank offers asset management services and has an international presence in over 15 countries.
- Itau Unibanco Holding, Brazil – This bank is reputed to be the second-largest bank in Latin America and Itau does business in over 21 countries and operates more than 33,000 points worldwide. This bank is privately owned and offers investment banking services as well.
- Caixa Economica Federal, Brazil – Caixa is a private-government entity and holds a close relationship with the Brazilian Ministry of Finance. The Bank is also known for managing the country’s main lottery programs.
- Banco Bradesco, Brazil – the Headquarters of this bank is in Sao Paulo and it serves individuals and even several business clients all across Brazil.
- Banco Santander Brasil – Quite similar to many Latin American banks, Santander Brasil is a part of a larger European Bank – The Santander. The bank offers credit cards, home loans, and the management offers asset management and commercial banking services.
- BBVA Bancomer, Mexico – The bank sits on a total asset of $207 Billion and is a subsidiary of the Spanish company BBVA. BBVA Bancomer in Mexico has more than 11 million customers and has a massive network of 1,704 bank locations.
- Banco Santander Mexico – This bank has about $67 billion in assets and includes a wide range of banking services which include mortgages, credit cards, and personal loans.
- Citibanamex, Mexico – Sitting on a total asset of about $65 Billion, Citibanamex is a subsidiary of Citigroup and offers traditional banking services like credits, insurance plans, and retirement products.
- Banorte, Mexico – The Bank rose to fame by acquiring many banks during the Mexican financial crisis. The bank offers several facilities like retail banking and offers investment services, retirement funds, etc.
- The Banco del Estado de Chile – this government-run bank in Chile serves all types of banking requirements and ideally focuses on serving small and medium businesses. It has a massive presence across Chile with about 107 express banking branches and 417 full-service branches, making it the third-largest bank in Chile.