{"id":5481,"date":"2023-03-27T16:36:05","date_gmt":"2023-03-27T19:36:05","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/ma-no-setor-bancario-brasileiro\/"},"modified":"2026-09-29T12:05:37","modified_gmt":"2026-09-29T15:05:37","slug":"ma-no-setor-bancario-brasileiro","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/ma-no-setor-bancario-brasileiro\/","title":{"rendered":"M&amp;A in the Brazilian banking sector"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Desde o in\u00edcio dos anos 2000, o setor banc\u00e1rio brasileiro foi marcado por M&amp;As que resultaram na consolida\u00e7\u00e3o do setor por grandes bancos. Em alguns casos, o M&amp;A permitiu atua\u00e7\u00e3o em novos mercados, como a aquisi\u00e7\u00e3o do BBA pelo Ita\u00fa, a sa\u00edda de bancos internacionais do pa\u00eds, como a venda do HSBC para o Bradesco, ou at\u00e9 mesmo uma ferramenta para acionistas retomarem controle de uma empresa, no caso do BTG Pactual.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Na p\u00edlula hoje, vamos apresentar os principais M&amp;As que moldaram setor banc\u00e1rio que conhecemos hoje.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i{width:14px;height:10px;display:inline-block}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); 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A proposta do Santander no leil\u00e3o de privatiza\u00e7\u00e3o foi muito elevada comparada com as do Unibanco e Bradesco de ~R$2,1 Bi e ~R$1,9 Bi, respectivamente.<\/span><\/div><\/div>\n    <div><b class=\"y\">2002<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-itau-bba.png\" alt=\"Logos do Ita\u00fa e do BBA\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Ita\u00fa adquire o banco BBA-Creditanstalt por R$3,3 Bi, fundando o maior banco de atacado do pa\u00eds.<\/span><\/div><\/div>\n    <div><b class=\"y\">2003<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-bradesco-bbv.png\" alt=\"Logos do Bradesco e do BBVA\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Bradesco compra 99,99% do banco BBV Brasil, filial brasileira do banco espanhol BBVA, por R$2,6 Bi.<\/span><\/div><\/div>\n    <div><b class=\"y\">2006<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-itau-bankboston.png\" alt=\"Logos do Ita\u00fa e do BankBoston\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Ita\u00fa compra Bank of Boston no Brasil por US$2,2 Bi. Com a compra o Ita\u00fa passou a ter R$168,7 Bi em ativos e se tornou o maior banco privado brasileiro, ultrapassando o Bradesco.<\/span><\/div>\n      <div style=\"display:flex;gap:16px;align-items:center;margin-top:12px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-ubs-pactual.png\" alt=\"Logo do UBS Pactual\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>UBS adquire o banco de investimentos Pactual, fundado por Luiz Cezar Fernandes, Andr\u00e9 Jakurski e Paulo Guedes, por US$2,5 Bi.<\/span><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Analise \u00c1rtica, Globo, Exame, Folha, Uol e Terra<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Fus\u00f5es e aquisi\u00e7\u00f5es que marcaram o setor banc\u00e1rio brasileiro<\/h2>\n  <div class=\"pil-time\">\n    <div><b class=\"y\">2008<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-santander-abn.png\" alt=\"Logos do Santander e do ABN AMRO\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Um cons\u00f3rcio de bancos, liderado pelo Santander, RBS e Fortis, adquiriu o ABN por \u20ac71,1 Bi. Com a aquisi\u00e7\u00e3o, o Santander assumiu as opera\u00e7\u00f5es do ABN no Brasil e se tornou o 4<sup>\u00ba<\/sup> maior banco do pa\u00eds.<\/span><\/div>\n      <div style=\"display:flex;gap:16px;align-items:center;margin-top:12px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-itau-unibanco.png\" alt=\"Logos do Ita\u00fa e do Unibanco\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Ita\u00fa e Unibanco realizam uma fus\u00e3o formando o Ita\u00fa Unibanco. O novo banco se torna o maior banco do hemisf\u00e9rio sul, com +R$575 Bi em ativos e patrim\u00f4nio l\u00edquido de ~R$52 Bi.<\/span><\/div><\/div>\n    <div><b class=\"y\">2009<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-btg-ubs.png\" alt=\"Logos do BTG e do UBS Pactual\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>A partir do BTG, fundadores do Pactual adquirem a UBS Pactual por US$2,5 Bi, criando o BTG Pactual.<\/span><\/div>\n      <div style=\"display:flex;gap:16px;align-items:center;margin-top:12px\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-bb-votorantim.png\" alt=\"Logos do Banco do Brasil e do Banco Votorantim\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Banco do Brasil compra 50% do banco Votorantim, o 7\u00ba maior banco brasileiro na \u00e9poca, por R$4,2 Bi.<\/span><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Analise \u00c1rtica, Globo, Exame e Terra<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Fus\u00f5es e aquisi\u00e7\u00f5es que marcaram o setor banc\u00e1rio brasileiro<\/h2>\n  <div class=\"pil-time\">\n    <div><b class=\"y\">2015<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-bradesco-hsbc.png\" alt=\"Logos do Bradesco e do HSBC\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Bradesco compra a opera\u00e7\u00e3o do HSBC no Brasil por US$5,2 Bi, adicionando R$175 Bi em ativos.<\/span><\/div><\/div>\n    <div><b class=\"y\">2016<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-itau-citi.png\" alt=\"Logos do Ita\u00fa e do Citi\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Ita\u00fa adquire a opera\u00e7\u00e3o de varejo do Citibank no Brasil por R$710 MM.<\/span><\/div><\/div>\n    <div><b class=\"y\">2017<\/b><div style=\"display:flex;gap:16px;align-items:center\"><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5481-itau-xp.png\" alt=\"Logos do Ita\u00fa e da XP Investimentos\" loading=\"lazy\" style=\"width:110px;flex:none;border:1px solid #d8dce4\"><span>Ita\u00fa compra 49,9% da XP Investimentos por R$6,3 Bi.<br>Na \u00e9poca, a aquisi\u00e7\u00e3o previa a compra de mais 25% de participa\u00e7\u00e3o nos anos seguintes, que n\u00e3o foi autorizada pelo Banco Central.<\/span><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: Analise \u00c1rtica, Globo, Exame e Terra<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Desde o in\u00edcio dos anos 2000, o setor banc\u00e1rio brasileiro foi marcado por M&#038;As que resultaram na consolida\u00e7\u00e3o do setor por grandes bancos. Em alguns casos, o M&#038;A permitiu atua\u00e7\u00e3o em novos mercados, como a aquisi\u00e7\u00e3o do BBA pelo Ita\u00fa, a sa\u00edda de bancos internacionais do pa\u00eds, como a venda do HSBC para o Bradesco, ou at\u00e9 mesmo uma ferramenta para acionistas retomarem controle de uma empresa, no caso do BTG Pactual.<\/p>","protected":false},"author":1,"featured_media":5477,"template":"","meta":[],"class_list":["post-5481","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5477"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}