Leading banks in Brazil 2022, by total assets
Brazilian banking network
Brazil was the country with the highest number of bank branches in Latin America, with more than 17,600 branches in 2021. However, in terms of accessibility, the South American country lags behind some regional counterparts. In that year, the density of bank branches in Brazil reached only 10 per 1,000 adults; in comparison to 12 bank branches per 1,000 adults in Mexico.
Neobanks in Brazil
With the use of financial technology increasing around the world, online banking is becoming ever more popular, and the Brazilian market is no exception. In fact, Brazil is home for one of the leading neobanks worldwide, Nubank. Nubank's monthly active users increased sharply in 2021, while its operating revenue more than doubled in 2022 as it exceeded 4.7 billion U.S. dollars.