In 2023, Brazil’s top banks, including Itaú Unibanco, Caixa Econômica Federal, and Banco do Brasil, saw their profits rise by 1.9% to $21.21 (R$107.5) billion. This growth helped balance out the lower earnings from Bradesco and Santander Brasil, which faced challenges due to high default rates on older loans. Itaú led the profit surge, finding […]
Related Posts
The Decline of Latin America’s Currency Rally
The Colombian peso’s rally, mirroring the 15% increase seen in Mexico’s peso in 2023, might be drawing to a close. Analysts from Natwest Markets and BBVA have alerted local media that the currency’s growth has probably stretched too far. The U.S. is reducing interest rates and adopting a more cautious stance. Meanwhile, Colombia faces political […]
Pope Francis Elevates Progressive Peruvian Archbishop to Cardinal
Pope Francis has named Carlos Castillo Mattasoglio, the Archbishop of Lima, as Peru’s newest cardinal. At 74 years old, Castillo Mattasoglio will become the sixth Cardinal in Peru’s history. His Sunday masses have gained popularity due to his political commentary. Castillo Mattasoglio often criticizes President Dina Boluarte and Congress members for their institutional paralysis. His […]
Brazil records second-highest tourism spending, surpassed only in 2014
According to the Central Bank of Brazil, international tourists spent over R$18 (US$3.6) billion in Brazil in the first half of the year, making it the second-highest expenditure recorded, only surpassed by 2014, the year Brazil hosted the World Cup. In the first six months, Brazil welcomed over 3.2 million foreign tourists, as per a […]