By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Although large financial institutions in Brazil, such as Itau, Unibanco and Bradesco registered billion dollar profits last year, the small and medium sized banks in the country are struggling to stay afloat. These struggling institutions are now being carefully watched and have become attractive as possible acquisitions by the larger banks, especially foreign institutions.
A recent survey conducted by daily O Globo showed that losses of 22 of these small and medium sized financial institutions totaled R$1.5 billion until the third quarter of 2015.
The current economic problems . . .