El Popular has reached a deal with HSBC to purchase its unprofitable business in Brazil for $ 5.2bn . This is an all - cash deal that could be completed by June next year , leaving the bank with the Mexican business in Latin America that will increasingly focus on Northern American markets . It had also been interested in acquiring the unit .
Banco Bradesco has reached a deal with HSBC to purchase its unprofitable business in Brazil for $5.2bn. This is an all-cash deal that could be completed by June next year, leaving the bank with the Mexican business in Latin America that will increasingly focus on Northern American trade. Santander had also been interested in acquiring the unit.