News

Brazil's central bank approves purchase of 40% of C6 Bank by JP Morgan

Monday 7 February 2022 14:22 CET | News

The Central Bank of Brazil has approved the purchase of 40% of Brazil-based C6 Bank by US-based bank JP Morgan Chase, according to poder360.com.br

The operation, announced in June 2021, had already received approval from CADE (Administrative Council for Economic Defense). The information is from the newspaper O Estado de S. Paulo. At the time the deal was announced, the banks did not disclose the amounts. In a statement, Sanoke Viswanathan, CEO of International Retail at JP Morgan Chase, said that C6 Bank is an ‘impressive platform’ of financial sector products and services. The strategy is to accelerate the growth of digital banking.

C6 Bank started operations in 2019. It offers products such as multi-currency, debit and credit cards, loyalty programme, investment, and credit platform for individuals and companies. According to the latest information released by the bank, C6 Bank has 14 million customers (among individuals, MEIs and SMEs). 


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, JP Morgan, digital banking
Categories: Banking & Fintech
Companies:
Countries: Brazil
This article is part of category

Banking & Fintech






Industry Events