Brazilian banks continue to dominate in Latin America, with Banco do Brasil topping the region's rankings with $36.3bn in Tier 1 capital, followed closely by compatriots Itaú Unibanco and Banco Bradesco, with Caixa Economica Federal a distant fourth with a Tier 1 capital of $13.76bn.
Bancolombia sits in fifth place with $5.12bn in Tier 1 capital. Though the gap between the Colombian lender and the Brazilian giants is large, Bancolombia is the second highest mover in the region, having expanded its Tier 1 capital by 42.52% over the past financial year. The bank surpassed rival Banco de Bogotá, which now sits in seventh place regionally with a Tier 1 capital of $4.66bn. Banco de Bogotá was fifth in 2012’s regional table and was Latin America’s highest mover.
