Americas: Brazil - Santander shakes up Brazil's banking elite - Santander's takeover of ABN Amro Banco Real has changed Brazil's banking landscape, but the integration process may not be easy. John Rumsey reports.(Banco Santander S.A.)

Banker, The, January, 2008 by Rumsey, John

Byline: JOHN RUMSEY

Santander's acquisition of ABN AMRO Banco Real in Brazil has catapulted it into an elite trio of top banks, ranked by branch network and loans. The Spanish bank trumpets the benefits in terms of enhanced economies of scale, synergies and the complementary nature of the two businesses. However, first there is the tricky question of integrating the banks, a task that has tripped Santander up in the past in Brazil.

The October 17 announcement that Santander had won the battle for ABN AMRO in Brazil sent shivers down the spine of commercial bankers at Brazil's major financial institutions. The new bank will be in the top three in terms of loans and deposits. If it works smoothly, the new entity will combine Santander's strength in...

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