Profile and History
Banco Votorantim is currently the third largest privately-held Brazilian bank, and has a robust shareholder base, comprised of Votorantim Group, one of Latin America's largest private-sector conglomerates and Banco do Brasil, the country’s largest financial institution.
Founded in 1988 as a securities dealer (DTVM), Banco Votorantim S.A. started operating as a multiple bank in 1991.
Historically, Banco Votorantim acted mainly in wholesale, treasury and investments. In recent years, it has grown and expanded its scope of action, seeking to increase its revenue and asset base through a diversified business portfolio, internally classified into Wholesale and Consumer Finance.
Wholesale includes operations in the following businesses:
- Corporate: services for large companies, with annual revenues above R$400 million;
- Investment Banking;
- Brokerage;
- Middle Market: services to mid-sized companies, with annual revenues between R$20 million and R$400 million;
- Asset Management; and
- Private Bank.
In Consumer Finance, Banco Votorantim is one of the leading players in the market, focused in the auto financing business and with positions in complementary businesses, such as credit cards and insurance brokerage, besides also operating in the payroll loan business.
Banco Votorantim's transactions are conducted through its subsidiary institutions operating in the financial market on an integrated basis, also in relation to risk management. These subsidiaries include BV Financeira, BV Leasing, Votorantim Asset Management, and Votorantim Corretora de Títulos e Valores Mobiliários.
To support its operations and provide strategic geographic coverage, Banco Votorantim is headquartered in São Paulo and has service outlets in all major Brazilian cities, besides a subsidiary in Nassau (Bahamas), and broker dealers in New York and London. In 2009, a strategic partnership was established with Banco do Brasil, Brazil's largest financial institution in terms of assets, which acquired 49.99% of the voting capital and 50% of the total capital of Banco Votorantim. This strategic partnership is based on a strong business logic and long-term view, fostering business expansion and contributing to an institution even stronger and more competitive.
Updated on February 17th, 2012
