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Sanoke Viswanathan - 1 Tatiana Bautzer - 1 Chris Reese - 1 Michelle Price - 1 David Holmes - 1
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JPMorgan Chase & - 1 JPMorgan - 1 C6 Bank - 1 C6 - 1 Thomson - 1

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3 mentions found


☆ JPMorgan increases stake in Brazilian digital bank C6 to 46%
  + stars: | 2023-08-29 | by ( Tatiana Bautzer | ) www.reuters.com   time to read: +1 min
NEW YORK, Aug 29 (Reuters) - JPMorgan Chase & Co (JPM.N) has increased its stake in Brazilian digital bank C6 to 46% from 40%, the banks said in a statement on Tuesday, without disclosing the financial terms. The banks said C6 had expanded its number of clients to 25 million from 8 million since June 2021, when JPMorgan bought its initial stake, and had added products such as auto loans. Sanoke Viswanathan, JPMorgan's CEO of international consumer banking, said the investment in C6 Bank was an important part of the lender's global strategy. The credit portfolio of C6 had increased to 40 billion reais ($8.2 billion) from 9.5 billion when JPMorgan first invested, according to the statement. C6 posted a 2.2 billion real loss last year, due to increased provisions for credit losses.
Persons: Sanoke Viswanathan, Tatiana Bautzer, Chris Reese, Michelle Price, David Holmes Organizations: JPMorgan Chase &, JPMorgan, C6 Bank, C6, Thomson
☆ JPMorgan expects to keep growing in Latin America with improved outlook
  + stars: | 2022-11-23 | by ( Tatiana Bautzer | ) www.reuters.com   time to read: +2 min
SAO PAULO, Nov 23 (Reuters) - JPMorgan Chase & Co (JPM.N) will keep growing in Latin America over the next few years as it expects the region's geopolitical outlook to improve, said Alfonso Eyzaguirre, the bank's chief executive for Latin America and Canada. He expects Latin America to profit from the changes. Latin America also stands to receive a large portion of private investment to tackle climate change, Eyzaguirre added. JPMorgan has been adding headcount and new services for corporate clients in Latin America. Brazil and Britain are the only countries apart from the United States where JPMorgan has retail banking activities.
☆ JPMorgan-backed digital bank C6 to open Brazil branch network
  + stars: | 2022-10-19 | by ( Aluisio Alves | ) www.reuters.com   time to read: +2 min
SÃO PAULO, Oct 19 (Reuters) - Brazilian lender C6 Bank is set to open its first five brick-and-mortar branches in the country in the next few weeks, an executive has revealed, enhancing the competition between the JPMorgan-backed digital bank and large retail lenders for high income clients in Latin America's largest economy. Similar units in Brazilian large cap lenders include Banco Bradesco SA's Prime (BBDC4.SA) and Banco Santander Brasil SA's Van Gogh . With the physical branches initiative, C6 aims to increase its share in the high income market, which it expects to cover some 5 million people in the country. In 2021, the purchase of a 40% stake in C6 marked JPMorgan Chase & Co's (JPM.N) debut in Brazil's retail banking. C6 was founded by former partners at Banco BTG Pactual SA , Latin America's largest independent investment bank.
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