BTG Pactual, one of the largest financial institutions in Brazil, announced the signing of definitive documents for the acquisition of 100% of the share capital of M.Y. Safra Bank, FSB, a financial institution headquartered in New York.
Founded more than a decade ago, M.Y. Safra Bank operates mainly in the private banking and commercial and residential real estate financing markets, in addition to offering general credit products.
At the end of March 2024, the bank had a loan portfolio of $275 million, total assets of $404 million, and net equity of $46 million.
This acquisition is part of BTG Pactual’s global expansion strategy in the Wealth Management and Personal Banking segments in North America, where the bank already has a significant presence.
The completion of the transaction is subject to the verification of certain precedent conditions, including obtaining all necessary regulatory approvals from the Central Bank of Brazil, the Federal Reserve Board (FED), and the Office of the Comptroller of the Currency (OCC).
Por Funds Society, Brazil
Por Alicia Miguel