![\"\"](\"http:\/\/www.mobilepedia.com.br\/wp-content\/uploads\/2008\/03\/itau-sms-shortcode.jpg\")
<\/p>\n","protected":false},"excerpt":{"rendered":"This week, two Brazilian banks announced a major merge between Unibanco and Itau, which would form the largest private-sector bank in the Americas with combined assets of nearly US$262 billion and a market value of US$41.3 billion.<\/p>\n
The goal of the merger is to create stability in an uncertain financial environment and for the new banking group to be a global player, especially in Latin America, Asia and the Middle East. It will also create a continued flow of credit in Brazil, which is crucial during the world financial crisis.<\/p>\n
The Central Bank of Brazil must approve the merger in order for the deal to be official, but bank executives are confident about the approval. The merger will cause no loss of jobs, and will result in a combined 4,800 branches with 14.5 million clients in Brazil. Shares in both banks rose in anticipation of the merger. The combined company will be the 17th largest bank in the world.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
This week, two Brazilian banks announced a major merge between Unibanco and Itau, which would form the largest private-sector bank in the Americas with combined assets of nearly US$262 billion and a market value of US$41.3 billion. The goal of the merger is to create stability in an uncertain financial environment and for the new…<\/p>\n