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Julius Baer has agreed to sell its Brazilian wealth management subsidiary to Banco BTG Pactual for CHF 91 million, a move expected to enhance its CET1 capital ratio by approximately 30 basis points. The sale, which is subject to regulatory approvals and anticipated to close in Q1 2025, allows Julius Baer to continue serving Brazilian clients from other locations while focusing on enhancing investment capabilities.
Julius Baer is divesting its Brazilian wealth management subsidiary to Banco BTG Pactual, while continuing to serve clients from other locations. The sale, valued at CHF 91 million, is expected to enhance Julius Baer's CET1 capital ratio by approximately 30 basis points and is set to close in early 2025, pending regulatory approvals.
Julius Baer's Brazilian business is attracting interest from major players including BTG Pactual, Santander, XP, and Safra, with a deal anticipated soon. The bank manages approximately 50 billion reais in Brazil, and the asking price for its unit is between 800 million and 1.2 billion reais. A joint venture could also be a possibility as negotiations progress.
Juan Carlos Recoder
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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