RIO DE JANEIRO, BRAZIL - XP Inc. is interested in buying the Brazilian unit of Credit Suisse bank, two sources close to the matter said.
The sources added that analyses are in early stages. One of the sources said it was clear that the Swiss bank has no interest in selling the unit, at least for now.
In a note released by Credit Suisse in Brazil, the Swiss bank categorically denied that it is talking to any group about the subject. XP did not want to comment.
A potential deal would double the size of XP in the asset management area . . .
BusinessBroker XP eyes Credit Suisse s Brazil unit -sources
Carolina MandlTatiana Bautzer
2 minute read
The Credit Suisse logo is seen at the headquarters in downtown Milan, Italy, March 9, 2016. REUTERS/Stefano Rellandini
Brazilian broker XP Inc (XP.O) is interested in acquiring the Brazilian subsidiary of Credit Suisse Group AG (CSGN.S), two sources familiar with the matter said on Friday.
Considerations are in very early stages, they said. One of the sources said it was clear the Swiss bank was not interested in selling the unit, at least for the time being.
In a statement released by the Brazilian operation of Credit Suisse, the Swiss bank categorically denied it was talking to any group about the matter. XP declined to comment.
XP approached Credit Suisse about buying its Brazil subsidiary: report reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
UPDATE 1-Bradesco CEO says Brazilian lender s loan defaults under control Reuters 3 hrs ago
Popular Searches
By Carolina Mandl
SAO PAULO, May 5 (Reuters) - Banco Bradesco s loan defaults are under control despite the Brazilian lender s decision to set aside an extra 1 billion reais ($185.31 million) in the first quarter to blunt the impact of the coronavirus pandemic, Chief Executive Octavio de Lazari said on Wednesday.
The CEO told analysts the bank is likely to end 2021 with between 15-16 billion reais in loan-loss provisions, roughly the mid-point of the annual outlook it unveiled in February. I am very positive about Brazil s economic recovery in the coming months, he said after repeatedly being questioned about the quality of the bank s assets amid a brutal second wave of the pandemic in Latin America s largest economy.