Brazil's recession and widespread corruption scandals have not affected its position as Latin America's largest banking market. Whether by aggregate Tier 1 capital or assets, the country overshadows its peers by a wide margin. But while big Brazilian banks are still safely at the top of The Banker's Top 200 Latin American Banks ranking, their shrinking Tier 1 capital has cast their future as regional leaders into doubt. Only last year, all of Brazil's top five lenders cut about one-third off their Tier 1 capital, at rates ranging from 28.52% (Itau Unibanco) to 38.42% (Santander Brasil).
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