Brazilian financial institutions are gaining market share in the investment-banking sector, surpassing their US competitors. Bank of America Corp. has dropped to third place this year, down from second in 2023, while Itau Unibanco Holding SA and Banco BTG Pactual SA are increasing their market share.
JPMorgan Chase & Co., the largest US bank, has also experienced a decline in market share. This shift highlights the changing dynamics in the market as Brazilian banks take advantage of favorable conditions and increasing competition from abroad.