A Healthy Bank Balance

摘要

Brazil has more than a hundred banks, and in contrast to the situation in other Latin American countries, most of them are locally owned. Although two of the country's biggest financial institutions, Itau and Unibanco, merged in November 2008 and further consolidation of the banking sector is expected in 2009, Brazil's local banks continue to enjoy good reputations. They are known for the efficiency of their management and the high standards of their facilities and technological equipment.rnThey have had little exposure to the subprime crisis and, as a consequence of high levels of inflation and instability in the past, they have developed sophisticated modern systems of operation.rnOne of the leading state banks, Banrisul, the largest in southern Brazil, underwent an initial public offering (IPO) two years ago that boosted its capital by $874.9 million while generating $568.7 million for the state of Rio Grande do Sul.