Brazilian financial companies are likely to pursue acquisitions abroad in coming years to take advantage of a retrenchment by European and U.S. rivals that are propping up capital and disposing of non-core assets, analysts said. Brazil's largest non-government bank Ita� Unibanco Holding SA and investment-banking firm Grupo BTG Pactual SA have already signaled potential interest in markets outside Brazil. Analysts and industry leaders say rival Banco Bradesco SA, bourse operator BM&FBovespa SA and insurer Porto Seguro could seek to expand overseas too.For banks, tapping revenue sources in markets outside their home turf could help offset slowing growth, rising inflation and payroll costs, and growing state intervention in Brazil that is weighing down markets. The economies and capital markets of countries like Chile, Colombia and Peru are expanding faster than Brazil's, opening room for Brazilian financial firms to tap new business opportunities."We will see some more consolidation going forward," said Jo�o Augusto Frota Salles, an economist at banking industry consultancy RiskBank.Ita�, after the takeover of Chile's CorpBanca SA, earns 15 percent of revenues from abroad. Chief Executive Officer Roberto Setubal said earlier this year that the bank is keen on acquisition opportunities in Mexico and Peru "to avoid depending only on Brazil."
Banco Bradesco SA (the Bank) is a Brazil-based bank. Shares of BBD traded higher by 4.89% or $0.67/share to $14.36. In the past year, the shares have traded as low as $10.23 and as high as $15.96. On average, 8973780 shares of BBD exchange hands on a given day and today's volume is recorded at 12842585.
Shares of BBDO traded higher by 7.3% or $1.02/share to $15.00. In the past year, the shares have traded as low as $11.30 and as high as $17.17. On average, 2944 shares of BBDO exchange hands on a given day and today's volume is recorded at 2399.
CorpBanca is a Chile-based bank engaged in the provision of commercial and retail banking services. Shares of BCA traded higher by 0.93% or $0.17/share to $18.38. In the past year, the shares have traded as low as $13.37 and as high as $22.30. On average, 67139 shares of BCA exchange hands on a given day and today's volume is recorded at 43183.
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