BTG Pactual surpasses Bradesco in market capitalization and rises to second place on the Brazilian stock exchange

Established in 1983, São Paulo-based BTG Pactual has grown to be a dominant force in the investment banking landscape of Latin America.

With a strong presence in Brazil and innovative financial solutions, the bank has continuously evolved to cater to institutional and individual clients.

It has been recognized for its asset management, wealth management, and sales & trading capabilities.

Today, BTG Pactual overtook Bradesco in market value, positioning itself as the second-largest bank on the stock exchange, trailing only Itaú Unibanco.

According to data from the Trademap consultancy, as of the close on the 7th, BTG Pactual achieved a market value of R$155.52 (US$31) billion, surpassing Bradesco, which stood at R$155.47 billion.

This significant development marks the first occasion in history where BTG has outperformed Bradesco.

In the rankings, Itaú Unibanco retains its top spot with a market capitalization of R$254.46 billion, Banco do Brasil is in fourth at R$135.04 billion, and Santander Brasil rounds off the top five with R$103.45 billion.

On the international scene, Nubank, listed in New York, boasts a market valuation of US$36.8 billion.

After conversion at the current exchange rate amounts to roughly R$ 180.7 billion, potentially placing it ahead of BTG in overall rankings.

While Bradesco has grappled with challenges in recent quarters, especially amidst rising defaults and treasury challenges, BTG Pactual has managed to thrive.

Even in a challenging capital market environment, the bank has recorded impressive results, expanding its service portfolio and capturing a larger market share.

BTG is set to announce its financial results on the morning of the 9th.

Related coverage: Only five of fifteen states surveyed in Brazil exceed pre-pandemic levels in industry · Brazil's B3 stock market drops by 1.04% while the dollar rises by 0.75% after Copom minutes release · Brazil's Paraná state set to overtake all of Argentina in soybean production · After 25 years, Brazil is set to overtake world No. 1 Argentina in soybean meal exports

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

Brazil runoff, Sunday, October 25: When is the Brazil runoff election. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.