Banco Real

Banco Real
Banco ABN Amro Real S.A.
Company typeS.A.
PredecessorBanco da Lavoura
Founded1 March 1971 (1971-03-01) in São Paulo, Brazil
FounderAloysio de Andrade Faria
Defunct4 November 2010 (2010-11-04)
FateAcquired by Santander Brasil
SuccessorSantander Brasil
HeadquartersSão Paulo, Brazil
Area served
Whole of Brazil
Key people
Fabio Barbosa (CEO)
ProductsBank services
RevenueIncrease R$ 14.7 billion (2007)
Increase R$ 1.6 billion (2007)
Total assetsIncrease R$ 90.2 billion (2007)
Number of employees
33,202 (2008)
Parent
Websitewww.real.com.br[dead link]
Banco Real branch, in Belo Horizonte

Banco Real was a Brazilian bank, owned by Spain's Banco Santander. ABN AMRO had owned the bank but in October 2007, a consortium led by Royal Bank of Scotland that also included Banco Santander and Belgium's Fortis, acquired ABN AMRO and proceeded to dismember it. Banco Santander acquired Banco Real from the consortium, together with some other ABN AMRO operations in Italy, particularly Banca Antonveneta. Banco Santander already owned Banco Santander Brazil, which incorporated Banco do Estado de São Paulo (Banespa). Combining its existing operations with Banco Real will make Banco Santander Brazil the third largest private bank in the country, after Banco Bradesco and Itaú.

Santander has named the CEO of Banco Real to be the head of the combined group in Brazil, with the charge to unify the operations; Santander transferred the CEO of Banco Santander Brazil to Madrid, and then to New York. He is now CEO of Santander's US subsidiary, Sovereign Bank.