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 Brazilian territory. All the institutions mentioned in this article are synonymous with trust and quality, therefore they will be a great option for you.
1. Itaú Unibanco
- Highlight : It is one of the largest banks in the country in terms of assets, with approximately R$ 2.85 trillion according to the balances at the end of 2024, which is a highly significant amount.
- Strengths : It has a presence throughout Latin America, a strong presence in retail, high-income clients, and excellent investment options. Itaú also has numerous credit card partnerships that cater to a wide range of profiles.
2. Bank of Brazil
- EmphasisIt 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 history, and it was the first Brazilian bank.
- Strengths : It is a public institution with a strategic role in agricultural policies and regional development. In addition to having a wide reach of actions and a strong international presence, it also offers very attractive investment options for good returns. It is also known for having a good security system and even quite affordable insurance against theft.
3. Bradesco
- EmphasisIt is the third largest bank in the country in terms of assets, with approximately R$ 2.069 trillion reais.
- Strengths : Bradesco has a wide network of branches, as well as a strong presence in the insurance sector (Bradesco Seguros). It also has excellent digital platforms such as Next. Bradesco also has numerous credit card partnerships that cater to a wide range of profiles.
4. Caixa Econômica Federal
- EmphasisComing in fourth place, with approximately R$2 trillion in assets, is also a major highlight.
- Strengths : It plays a central role in public policies (such as Minha Casa, Minha Vida, FGTS), and also in the area of housing finance, social programs, and even in the administration of lotteries. Furthermore, it is one of the most secure institutions in Brazil, which makes it quite trustworthy.
5. Santander Brazil
- EmphasisFifth place, with approximately R$ 1.238 trillion in assets.
- Strengths : It is a subsidiary of a strong and internationally recognized European group, invests heavily in digital innovation, has university programs and loyalty programs (Esfera), and also stands out for being highly profitable. Santander also has numerous credit card partnerships that cater to a wide range of profiles.
Comparative
| Bank | Assets (Dec/2024) | Emphasis |
| Itaú Unibanco | Approximately R$ 2.85 trillion | Largest private bank in Latin America |
| Bank of Brazil | Approximately R$ 2.395 trillion | Public prominence and nationwide reach |
| Bradesco | Approximately R$ 2.07 trillion | Strong in insurance and digital operations |
| Federal Savings Bank | ~R$ 2 trillion | Social and housing policy agent |
| Santander Brazil | Approximately R$ 1.24 trillion | Digital innovation and international integration |
Final Considerations
All five of these banks mentioned dominate a large part of the Brazilian market, and together they represent about 68% of all national credit operations . These banks stand out not only for the volume of their assets and clients, but also for playing crucial roles in digital innovation, public policies, and strategies such as income and investment. In other words, any of these five bank options would be a great choice if you need to open a bank account and are still undecided about which one to choose.