May 7, 2019 |
Braziian lender Bradesco said it has agreed to buy BAC Florida Bank from Grupo Pellas for roughly $500m in cash.
Based in Coral Gables, BAC Florida focuses on wealthy clients from Latin America and the United States, Bradesco said in a press release. The US bank posted $29.4m in net income in 2018 and ended the year with $2.24bn in total assets.
"For Bradesco, the transaction... will expand the offering of investments in the US to Bradesco's high net worth and affluent clients, as well as other
Brazilian lender agrees to spend $500m for BAC Florida in Coral Gables