Miami Lures Another Brazil Bank as Amnesty Unlocks Hidden Wealth
- Brazilians fess up to $52 billion in undeclared deposits
- Money was mostly kept abroad, sparking bank’s interest
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Banco Bradesco SA, Brazil’s second-biggest bank by market value, is joining competitors branching out in Miami Beach as it seeks to tap a multibillion-dollar pool of money Brazilians had been keeping under wraps.
The bank will open an office in the South Florida city in July to serve wealthy Brazilian clients, Octavio de Lazari Jr., a managing officer at Bradesco, said in an interview at the company’s headquarters in Osasco.