BTG Buys HSBC’s Uruguay Unit in International Expansion

Banco BTG Pactual SA, Latin America’s largest independent investment bank, agreed to buy HSBC Holdings Plc’s operations in Uruguay for $175 million as part of the Sao Paulo-based lender’s international push.

HSBC had five branches in Uruguay at the end of 2024, and the unit has $1.8 billion in total assets and a loan book of $1.1 billion, according to Rodrigo Goes, a BTG Pactual partner responsible for operations in Latin America. The business had $144 million in equity and $47 million in additional capital instruments held by the HSBC.