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Article: Downturn plays into regional hands.(Industry overview)
- Article from:
- The Banker
- Article date:
- November 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Rumsey
The economic crisis acted as a reprieve for many of Brazil's regional banks. State-owned and regional development banks, which tend to have large deposit bases or state funding and do not depend on capital markets, have managed to increase market share at the expense of national private banks, which have been relegated to the sidelines.
Even so, the future looks uncertain. The story of regional banks in Brazil has been one of death by a thousand cuts. Today, the largest regional bank is ranked a relatively lowly 10th in Brazil by assets and 30 of the top 50 Brazilian banks are in Sao Paulo, according to data from the Banco do Brasil, ...