BTG Pactual keeps performance crown, while Itaú gains ground in Brazil

While Itaú Unibanco remains the largest Brazilian bank, it is the smaller BTG Pactual that outperforms its peers. Barbara Pianese reports.

by Barbara Pianese

Share the article

Brazil witnessed a strong rebound in economic activity in 2021 as restrictions were lifted, with gross domestic product (GDP) growing by 4.6% on an annual basis after the economy shrank 3.9% in 2020 due to the pandemic.

As a result of improved macroeconomic conditions, the banking sector was able to build up its strength in the year to December 2021. Large Brazilian banks’ post-pandemic performance exceeded expectations, thanks to their diversified business model and sound pre-impairment profit, according to Fitch Ratings.

To continue reading, join our community and benefit from

In-depth coverage across key markets
Comments from financial leaders and policymakers worldwide
Regional/country bank rankings and awards

Activate your free trial

Barbara Pianese

Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.