trending Market Intelligence /marketintelligence/en/news-insights/trending/Q79tiBcqGG-grd_XIn6l7w2 content esgSubNav
In This List

Brazil's central bank grants operating license to Banco XP

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Brazil's central bank grants operating license to Banco XP

Banco Central do Brasil on Oct. 11 granted an operating authorization to Banco XP, the new lender owned by XP Investimentos Corretora de Câmbio Títulos e Valores Mobiliários SA, according to Brazil's Official Gazette.

The establishment of the bank, which will offer credit products to individuals, according to earlier reports, had already garnered several steps toward approval from the regulator, and it will now be allowed to fully operate as a multiple bank, with commercial and investment portfolios and foreign exchange operations.

Banco XP is headquartered in Rio de Janeiro and has a registered share capital of 100 million reais, according to a report from Valor Economico. XP reportedly plans to carry out an IPO for the new bank in the U.S. in December.

As of Oct. 10, US$1 was equivalent to 4.11 Brazilian reais.