There are countless banks operating in Brazil, so many that it can be difficult to choose which one to use. That's why we'll show you the 5 largest and most important banks operating in Brazil. All the institutions mentioned in this article are synonymous with trust and quality, making them a great option for you.
1. Itaú Unibanco
- Highlight : It is one of the largest banks in the country in terms of assets, it has around R$2.85 trillion according to the balances at the end of 2024, which is a highly expressive value.
- Strengths : Itaú operates throughout Latin America and has a strong retail presence, as well as high-income and excellent investment options. Itaú also has numerous credit card partnerships that cater to a wide range of profiles.
2. Bank of Brazil
- Emphasis: It is the second-largest bank in the country in terms of assets, with approximately R$2.395 trillion. Furthermore, it is also one of the most reliable banks, considering its entire history, in addition to being the largest Brazilian bank.
- Strengths : It is a public institution with a strategic role in agricultural policies and regional development. It also has a broad range of activities and a strong international presence. It also offers attractive investment options to ensure a good return. It is also known for having a good security system and even very affordable theft insurance.
3. Bradesco
- Emphasis: It is the third largest bank in the country in terms of assets, with approximately R$2.069 trillion reais.
- Strengths : Bradesco has a large branch network and a strong presence in the insurance sector (Bradesco Seguros). It also has excellent digital platforms like Next. Bradesco also has numerous credit card partnerships that cater to a wide range of profiles.
4. Federal Savings Bank
- Emphasis: Coming in fourth place, with around R$2 trillion in assets, is also a major highlight.
- Strengths : It plays a central role in public policies (such as Minha Casa, Minha Vida, FGTS), as well as in housing finance, social programs, and even lottery administration. Furthermore, it is one of the most secure institutions in Brazil, making it highly reliable.
5. Santander Brazil
- Emphasis: Fifth place, has approximately R$1.238 trillion in assets.
- Strengths : It is a subsidiary of a strong and internationally recognized European group, invests heavily in digital innovation, offers university programs and loyalty programs through its Esfera program, and is also highly profitable. Santander also has numerous credit card partnerships that cater to a wide range of customer profiles.
Comparative
| Bank | Assets (Dec/2024) | Emphasis |
| Itaú Unibanco | ~R$ 2.85 trillion | Largest private bank in Latin America |
| Bank of Brazil | ~R$ 2.395 trillion | Public prominence and capillarity throughout the country |
| Bradesco | ~R$ 2.07 trillion | Strong in insurance and digital operations |
| Federal Savings Bank | ~R$ 2 trillion | Social and housing policy agent |
| Santander Brazil | ~R$ 1.24 trillion | Digital innovation and international integration |
Final Considerations
All five of these banks dominate a significant portion of the Brazilian market, and together they account for approximately 68% of all national credit operations . These banks stand out not only for their large assets and client base, but also for their crucial roles in digital innovation and public policy and strategies, such as income and investment. In other words, any of these five banks is a great choice if you need to open a bank account and are still undecided about which one to choose.
