Banco1 Opens First Offline Branch
Bnamericas Published: Thursday, November 29, 2001
Brazilian personal finances portal Banco1 (www.banco1.net) has invested 1.5mn reais (US$600,000) to open its first offline branch in Sao Paulo, Brazilian daily Estado de Sao Paulo reported. Founded in 1995 by Brazil's fourth largest private bank Unibanco (NYSE: UBB) (64.7%) and Portugal Telecom (31.5%), Banco1 administers 150mn reais worth of third party funds and has a 100,000-strong client base. The other main personal finances portals in Brazil include Investshop (www.investshop.com.br), Brazilian bank Itau's Investa (www.investa.com.br) and Deutsche Bank's MaxBlue (www.maxblue.com.br).
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