Brazilian ADRs are hot on WallStreet for the past few years due to their incredible growth.
The largest bank in Brazil is government-owned. There are quite a few private sector banks that are fueling credit growth in Brazil and across Latin America.
The largest private sector bank is Banco Bradesco: BBD
Yesterday the bank reported that their 4th Quarter profit soared over 38% to $1.2 B. More details here:
http://biz.yahoo.com/ap/080128/earns_brazil_bradesco.html?.v=1
The stock split 2: 1 last year at $40.Now its trading at $27+. BBD has grown over 700% in the past 5 years.
Other Brazilian banks trading as ADRs in the US are:
Banco ITAU – ITU
Uniao de Bancos Brasileiros S.A. – UBB
More on these later…..
