Brazil has 5 banks among the 20 most profitable ones of the US and LA
O Estado de S. Paulo 11/17/2008
Five Brazilian banks are in the list of the 20 biggest profits of the industry in the United States and Latin America, according to a study published this Monday, 17th, by the Economática consulting company. North-American Wells Fargo leads the ranking, with profits of R$ 1.63 billion in the third quarter, followed by the also American Bank of America, with US$ 1.17 billion, and by Brazilian Bradesco, with US$ 997.9 million. Among the listed institutions in the list, there are nine Latin banks. Among them, only Itaú and Unibanco had falls in their profitability in the third quarter of 2008. The two institutions are in the 5th and the 10th places in the ranking, respectively. Considering their merge, announced the last November 3, the new bank would have the second biggest profit in the list, only second to Wells Fargo. Itaú/Unibanco's consolidated profit would be US$ 1.33 billion, against US$ 1.97 billion in the same period of 2007, a 32.4% fall. See the 20 most profitable listed banks of Latin America and US in the third quarter of 2008 below: 1st Wells Fargo (USA) - US$ 1.63 billion; 2nd Bank of America (USA) - US$ 1.17 billion; 3rd Bradesco (Brazil) - US$ 997.9 million; 4th Banco do Brasil (Brazil) - US$ 975.3 million; 5th Itaú (Brazil) - US$ 965.2 million; 6th Goldman Sachs (USA) - US$ 845 million; 7th US Bancorp (USA) - US$ 576 million; 8th JP Morgan (USA) - US$ 527 million; 9th State Street Corp (USA) - US$ 477 million; 10th Unibanco (Brazil) - US$ 367.5 million; 11th BB&T (USA) - US$ 358 million; 12th Santander Serfin (Mexico) - US$ 324.1 million; 13th SunTrust Banks (USA) - US$ 312.4 million; 14th Charles Schwab (USA) - US$ 304 million; 15th Bank of NY Mellon (USA) - US$ 303 million; 16th Santander Brasil (Brazil) - US$ 259.5 million; 17th PNC Bank (USA) - US$ 248 million; 18th GFBanorte (Mexico) - US$ 209.1 million; 19th Bsantander (Chile) - US$ 174.7 million; 20th Chile (Chile) - US$ 168.6 million.