The banking sector in Brazil is one of the largest in Latin America, with total assets exceeding R$17 trillion as of 2025. The market is highly concentrated, with the five largest banks — Banco do Brasil, Caixa Econômica Federal, Itaú Unibanco, Bradesco, and Santander Brasil — accounting for more than half of total banking assets.
Central bank •
Central Bank of Brazil Development banks •
National Bank for Economic and Social Development (BNDES) (Federal Government-owned) •
Espírito Santo Development Bank (BANDES) (State of
Espírito Santo-owned) •
Minas Gerais Development Bank (BDMG) (State of
Minas Gerais-owned) •
Far South Regional Development Bank (BRDE) (States of
Paraná,
Santa Catarina and
Rio Grande do Sul-owned)
Major commercial banks Government-owned banks •
Banco do Brasil (Federal Government as main shareholder) •
Caixa Econômica Federal (Federal Government-owned)
Private-owned banks •
Itaú Unibanco •
Banco Bradesco •
Banco Santander Brasil; (owned by Spanish
Banco Santander)
Other commercial banks Government-owned banks • (Federal Government as main shareholder) •
Banco de Brasília (BRB) (
Federal District-owned) •
Banco do Estado do Espírito Santo (Banestes) (State of
Espírito Santo-owned) •
Banco do Estado do Pará (Banpará) (State of
Pará-owned) •
Banco do Estado do Rio Grande do Sul (Banrisul) (State of
Rio Grande do Sul-owned) • (Banese) (State of
Sergipe-owned) •
Banco do Nordeste (Federal Government as main shareholder)
Private-owned banks • (China's
Bank of Communications as main shareholder) •
Banco BMG •
Banco Daycoval S.A. •
Banco BV (co-owned by
Votorantim Group and
Banco do Brasil) • • • •
Banco PAN (formerly Banco Panamericano, now owned by
BTG Pactual) • • •
Banco Safra •
Online banks • • Banco Bari • • • • • •
Nubank •
Cooperative banks • (Bancoob) • Sistema de Cooperativas de Crédito Ailos • (Sicoob) • (Sicred) • • Cresol
Investment banks •
Banco BTG Pactual (private) • (private) • (private)
Merged or defunct banks •
Banco Alfa; acquired by
Banco Safra • Banco Bamerindus; acquired by
HSBC Bank (Brazil), now
Banco Bradesco • Banco Bandeirantes; acquired by
Caixa Geral de Depósitos, later merged with
Unibanco, now
Banco Itaú •
BankBoston Brasil; Brazilian operations acquired by
Banco Itaú • Banorte; acquired by Banco Bandeirantes, later merged with
Unibanco, now
Banco Itaú •
BBVA Brasil; Brazilian operations acquired by
Banco Bradesco • Banco Boavista; acquired by
Banco Bradesco •
Citibank Brasil; Brazilian operations acquired by
Banco Itaú • Banco Credireal; acquired by BCN, now
Banco Bradesco • Banco de Crédito Nacional (BCN); acquired by
Banco Bradesco • Banco Econômico; merged with Banco Excel, later acquired by
BBVA Brasil, now
Banco Bradesco • Banco do Estado do Amazonas (BEA); acquired by
Banco Bradesco • Banco do Estado da Bahia (Baneb); acquired by
Banco Bradesco • Banco do Estado do Ceará (BEC); acquired by
Banco Bradesco • Banco do Estado de Goiás (BEG); acquired by
Banco Itaú • Banco do Estado do Maranhão (BEM); acquired by
Banco Bradesco • Banco do Estado de Minas Gerais (Bemge); acquired by
Banco Itaú • Banco do Estado da Paraíba (Paraiban); acquired by
Banco Real, now
Santander Brasil • Banco do Estado do Paraná (Banestado); acquired by
Banco Itaú • Banco do Estado de Pernambuco (Bandepe); acquired by
Banco Real, now
Santander Brasil • Banco do Estado do Piauí (BEP); acquired by
Banco do Brasil • Banco do Estado do Rio de Janeiro (Banerj); acquired by
Banco Itaú • Banco do Estado de Santa Catarina (BESC); acquired by
Banco do Brasil • Banco do Estado de São Paulo (
Banespa); acquired by
Santander Brasil •
HSBC Bank (Brazil); Brazilian operations acquired by
Banco Bradesco • Banco Mercantil Finasa; acquired by
Banco Bradesco • Banco Meridional; acquired by Banco Bozano Simonsen, later merged with
Santander Brasil •
Banco Nacional; acquired by
Unibanco, now
Banco Itaú • Banco Noroeste; acquired by
Santander Brasil • Banco Nossa Caixa; acquired by
Banco do Brasil •
Banco Real; formerly owned by
ABN AMRO, later merged with
Santander Brasil •
Banco Sudameris; acquired by
Banco Real, now
Santander Brasil •
Unibanco; merged with
Banco Itaú ==Canada==