The Global Finance magazine recently published the list of biggest banks in emerging markets.  The table below lists the ten biggest banks in Latin America for 2010. These banks were ranked based on their total assets as of September, 2010. The data was provided by Bankersalmanc.com.

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Itau Unibanco(ITUB) and Banco Bradesco (BBD) are two of the largest private sector banks in Brazil. Both Itau and Bradesco pay a tiny monthly dividend. Banco do Brasil SA (BDORY), the largest state-run bank, trades on the OTC markets.

Disclosure: Long BBD, ITUB