Brazilian banking industry has undergone a lot of transformation in the last few decades. Currently, most of the major banks in the country offer numerous banking products that include Internet banking where their customers can easily access the bank’s services from any corner of the globe. The major banks have numerous branches that are spread across the country. A recent report indicates that the five major banks in Brazil have more than fifteen thousand branches throughout the country. Most of the banks have their headquarters in Sao Paulo or Rio de Janeiro but all their major branches can handle transactions of any magnitude.
Itau Unibanco is currently the largest bank in Latin America and ranks among the top ten biggest banks in the world. Following closely is Bradesco bank which for a long time has been the dominant bank in Latin America. It was overtaken in 2009 when Itau and Unibanco merged to form the largest conglomerate in the southern hemisphere. However, following the acquisition of HSBC Brasil bank in 2015, Bradesco bank is slowly regaining its market dominance. The acquisition of HSBC bank enabled Bradesco bank to double their assets and also significantly increase the number of account holders. The bank currently serves more than 27 million customers.
The deal also enabled the bank to grow six times ahead of its organic growth time. The deal was one of the largest to be recorded in the history of Brazil where Bradesco bank parted with a whopping $5.2 billion. The most recent developments in Bradesco bank could enable it to rise faster than what most people anticipate.
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Luiz Carlos Trabuco Cappi, the man who initiated the mega-billion deal was recently appointed to succeed Lazaro Brandao as the chairman of the bank. Luiz Carlos Trabuco Cappi has worked in Bradesco since he was seventeen years old as bank teller. He has held various leadership positions and his success is on the wall for everyone to see.
Upon his appointment to the position of the chairman of the bank, the appointment committee settled on Octavio de Lazari as his successor in the post of presidency. Octavio de Lazari is another great leader and professional banker who have contributed a lot to Bradesco’s plate. He once served in the credit section of the bank where he initiated a lot of reforms. In the end, the performance of the bank improved by improving the loan book and reducing the number of non-performing loans.
Before his appointment, Octavio was serving as the CEO of Bradesco Seguros, a division that is currently contributing up to 30 percent of Bradesco’s revenues. With Luiz Carlos Trabuco Cappi and Octavio sitting at the helm of Bradesco bank, we can only expect more surprises from the bank.
The two gentlemen have a proven track record and the ability to turn around the performance of underperforming departments. Their competitors have already started feeling the heat after the bank announced revenues of $76.3 billion reals in the year ending 2017. This was an improvement by a 6.8 percent margin from what the company announced in 2016. This year seems to be a good year for Bradesco bank and most experts are predicting even a better performance by the bank. With Luiz Carlos Trabuco Cappi as the chairman, the company is expected to attract even more investors.
Check more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384