Itau eyes further Andean acquisitions, rules out capital increase

Jan 31, 2014

Itau Unibanco is targeting further acquisitions in Chile and Colombia, as well as elsewhere in the region, in an ambitious bid to expand its regional footprint, its head of Latin American operations told LatinFinance on Thursday. The news follow the announcement Tuesday that the bank will merge its Chilean and Colombian operations with CorpBanca, partially owned by Alvaro Saieh’s CorpGroup, in a deal that will make Itau the fourth largest bank in Chile, and give it a strong position in Colombia. “We have the...

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