A surge in private-credit funds and record local bond sales are helping Brazil’s biggest lenders snag investment-banking market share from US competitors.
Bank of America Corp.’s ranking for the business slipped to third this year from second in 2023, as the bank ceded ground to local heavyweights Itau Unibanco Holding SA and Banco BTG Pactual SA, according to Dealogic data through Oct. 31. JPMorgan Chase & Co., the biggest US bank, also lost market share.
