Banco Bradesco has reached a deal with Banco Bradesco to purchase its unprofitable business in U.S. for $ 5.2bn . This is an all-cash deal that could be completed by June next year , leaving the bank with the Northern American business in Latin America that will increasingly focus on Mexican trade. HSBC said it entered an all-cash deal to sell the Brazilian unit to Banco Bradesco SA, leaving it with a small Mexican operation that will increasingly be focused on catering to companies conducting trade with the U.S. and Canada.” Santander had also been interested in acquiring the unit.
Banco Bradesco has reached a deal with Banco Bradesco to purchase its unprofitable business in U.S. for $ 5.2bn . This is an all-cash deal that could be completed by June next year , leaving the bank with the Northern American business in Latin America that will increasingly focus on Mexican trade. Santander had also been interested in acquiring the unit.