Bank with Brazilian Roots Expands in the United States
Following the success of its 2012 opening in Miami, Banco do Brasil Americas (BBA) is making waves as the Brazilian-rooted bank continues to increase its presence in the United States. BB Americas, the American offshoot of Latin America’s largest bank, Banco do Brasil, currently has six branches in Florida and plans to expand to northeastern US in the near future.
The trilingual – Spanish, Portuguese, and English – speaking bank has experienced 200% annual growth, and is a popular first choice for Latin American investors looking at the US. “For two years in a row, we have been the top South Florida lender. We are amongst the 200 healthiest banks in the USA,” stated BB Americas President and CEO, Cassio Segura.
The bank offers a wide range of products and services, and considers its portfolio to be that of “an American bank with a touch of Brazilian culture.” Brazilians looking to invest in the US will be pleased to have their credit history carry over. In addition, perks such as the ability to transfer money between the two countries without paying transaction fees and combo loans for residential, auto, and credit card are offered.
Always looking to meet the needs of its diverse, international client base, BBA recently developed a prepaid card to serve international students abroad. Mr. Segura explained, “We developed a prepaid card that you can load with 12 currencies in the same plastic. If you go to Europe, you can leave the US right away with euros, or the appropriate currency for 11 other countries. We have been paying Science without Borders scholarships through this card. We have improved the lives of students, because international money transfer can take two weeks and have a number of associated fees, whereas you can load this card online, it is instant and at no charge to the student.”
Since fully entering the American market in 2012, BBA has enjoyed rapid success and a very satisfied client base. Said Mr. Segura, “In these two years, we have done really well. We have been recognized as a bank that does things differently.”
As the leading bank for Brazilian investors in South Florida, Mr. Segura has supported many businesses establishing in the US and his advice is to “start small, test the market, and adapt your products to the local market”.
BBA’s executive board has vast experience in the local market, and the company is confident in its ability to serve the needs of both Americans and Latin Americans looking to invest and do business in the United States. “In Banco do Brasil Americas, customers can find a real and a truthful partner in Florida for their financial needs,” concluded Mr. Segura.