In spite of Brazil’s sluggish economic performance in 2018, the country’s five largest lenders have maintained their hold on the top positions of The Banker’s latest ranking of Latin American banks by Tier 1 capital. Accounting for 52% of the Latin American banking sector's total assets, 49% of its Tier 1 capital and 46% of its pre-tax profits, Brazil’s banking sector remains the undisputed dominant force in the region.
Itaú Unibanco leads the ranking with $33.9bn in Tier 1 capital, followed by Banco do Brasil, Banco Bradesco, Caixa Econômica Federal and Banco Santander Brasil, respectively. While there was no movement among the top five from the previous year, all five banks saw their overall Tier 1 capital shrink, with Itaú Unibanco losing 8.39% and Banco do Brasil 14.41%, respectively, from their Tier 1 capital.