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Latin American Economy & Business - February 2014 (ISSN 1741-7430)
Region: Itaú Unibanco launches its regional banking play
At the end of January, Itaú Unibanco, one of Brazil’s largest private banks, said it was taking a stake in Chile’s Corpbanca in a US$2.2bn cash and shares deal. The merger means that apart from Brazil, Itaú will be developing a presence in both Chile and Colombia. Could this be the beginning of a move towards the creation of locally owned, pan-Latin American banks?
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