We have speculated that this was happening for a month now, but it looks almost official. Tomorrow, Brazilian president-elect Dilma Rousseff will probably tell...(read more
Banco Santander (Brasil) S.A. (BSBR) Company Overview
Banco Santander Brasil NYSE:BSBR.K BOVESPA:SANB11, SANB3, SANB4 is the Brazilian arm of Banco Santander with corporate and wholesale banking operations that have a global reach. Private for the first 14 years of existence, it went public on the New York Stock Exchange October 7, 2010 when it raised $8.1 billion (19% more than the bank expected due to a higher number of shares) in the world's largest IPO that year and the biggest for a Brazilian company (the offering in New York and Brazil was concurrent). Like its two main domestic competitors (Itau Unibanco Holding SA (ITUB) and Bradesco are the only 2 banks with more assets, revenue and market cap) Banco Santander Brazil offers a full spectrum of banking products and services designed to meet the needs of a diverse clientele base. Individuals are provided with demand deposits in the form of checking and savings accounts, home and vehicle financing/leasing, retirement plans, credit cards and other loans and insurance; corporations are also offered these however theirs is on a much larger scale and structured differently (for example loans are payroll loans). Also included within Commercial Banking is foreign exchange financing, private banking and related services. Although division Wholesale Global Banking appears to serve foreign customers many of its clients are actually multinational companies based in Brazil (they account for nearly all loans in total and within the division). Public securities (issued by the Brazilian government) make up 61.2% (3qfy10) of securities (R80.47/US$45 billion) with financial instruments at 6.3%. In 3qfy10 staff totalled 52,702 1.8% more than the previous quarter, 3.4% more than 3qfy09.
Helping the bank are risk reducing policies regarding loans that have gotten tougher more recently (credit risk management process involves ensuring that borrowers have substantial collateral as high as 67-100% in some cases, though even with that the bank more recently (2010) performed slightly worse than competitors in terms of non performing loans (5% in September 2010). Brazil's allowance for bad loans covers 120% to 140% of Itau and Bradesco's non performing loans but only 80% for Banco Santander Brazil. On the national scale it has a Aaa long term rating from Moody's.
(Read more at Wikinvest )