Top 10 Biggest Companies In Brazil By Market Capitalization
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| The Largest Companies In Brazil By Market Cap (2024 Update) |
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A Deloitte report claims that this year has seen exceptionally strong growth in the Brazilian economy. The second quarter saw a 3.8% increase in private spending, and the third quarter's data show an increase in household consumption.
Additionally, the study highlights how well the services sector has been doing lately. The lodging and food services industry saw a 5.8% increase in inflation-adjusted revenues in July over the same month last year. Furthermore, despite a slight decline in fuel sales during the quarter, retail sales rose by 2.4% in July.
What are the largest public companies in Brazil?
Brazil is a significant economic force in addition to being one of the biggest and most diverse nations in the world.
Brazil is the most populous country in Latin America and the sixth most populous country in the world, with about 213 million people living there. With the 12th largest economy in the world, it is also the richest continent.
Brazil quickly industrialized in the 20th century after being a sugar and gold colony. It is currently among the top ten exporters of industrial steel, and the main sources of its economic power are finance and natural resources.
Top 10 Largest Companies In Brazil By Market Cap (2024 Update)
1. Petrobras
Market cap: $101.55 billion
Petrobras is a publicly traded company, with the Brazilian federal government as its largest stakeholder. Petrobras functions as an integrated energy corporation across several segments, including exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, power, chemical gas, and biofuels. The corporation leads the Brazilian oil industry and currently operates in 18 additional countries. The production rate is 2,539,000 barrels of oil equivalent daily.
2. Itaú Unibanco
Market cap: $63.33 billion
Itaú is the largest bank in Latin America and ranks among the largest banks globally, employing approximately 96,000 individuals and operating in 20 countries across the Americas, Asia, and Europe. Itaú is a universal bank providing services and products to individuals and businesses of all scales, encompassing large multinational corporations and local micro-entrepreneurs. The bank in Brazil manages approximately 5,000 full-service branches and 28,000 ATMs.
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3. Value
Market cap: $59.40 B
Vale S.A. (NYSE:VALE) is one of Brazil's most valued firms going into 2024. The firm is a household name in the metals and mining sectors. The company is also one of the leading logistics providers in Brazil. Vale S.A. (NYSE:VALE), formed in 1942, has a market capitalization of $62.77 billion as of November 11, 2023.
4. Banco Santander Brasil
Market cap: $44.83 B
Banco Santander (Brasil) S.A. (NYSE:BSBR) is a major financial services provider in Brazil. Individuals and organizations can choose from a variety of banking goods and services, including deposits, credit cards, debit cards, and digital prepaid solutions. Banco Santander (Brasil) S.A. (NYSE:BSBR), formed in 1985, has a market capitalization of $45.1 billion as of November 11, 2023.
5. Ambev
Market cap: $42.65 billion
Ambev S.A. (NYSE:ABEV) is a well-known beverage firm that is poised to become one of the most valuable in Brazil by 2024. The corporation produces, sells, and distributes beer, carbonated soft drinks, malt, non-alcoholic beverages, and food goods, to name a few. Ambev S.A. (NYSE:ABEV), founded in 1885, has a market capitalization of $42.9 billion as of November 11, 2023.
6. Nu Holdings
Market cap: $42.41 billion
Nu Holdings Ltd is a Brazilian company that manages a digital banking platform. The Company supplies products to its consumers throughout the five financial phases: expenditure, savings, investment, borrowing, and protection. Its expenditure solutions are designed to enable users to purchase goods and services in their daily lives utilizing a customized credit line or swiftly via mobile phone, while simultaneously accruing loyalty points and rewards on eligible transactions. The savings solutions aim to aid consumers in depositing, managing, and saving funds in interest-bearing accounts that offer complimentary debit cards. BTG Pactual provides investment solutions to aid consumers in making informed investment decisions.
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7. Banco BTG
Market cap: $36.04 B
Banco BTG Pactual S.A. (BPAC11.SA) is a top financial services firm in Brazil. The organization offers a variety of financial services, such as investment banking, advising, divestitures, and corporate transactions. Banco BTG Pactual S.A. (BPAC11.SA) has a market capitalization of $23.3 billion, making it one of the most valuable Brazilian firms heading into 2024.
8. Banco Bradesco
Market cap: $32.99 billion
The third-biggest bank in Latin America is called Banco Bradesco. Commercial banking, insurance, pension plans, credit card services, corporate financing, savings bonds, and other products and services are among its offerings. The bank was founded in 1943 by Amador Aguiar, whose three adopted daughters have gone on to become billionaires after inheriting his stake. In 1996, Aguiar passed away.
9. Banco do Brasil
Market cap: $31.77 billion
Banco do Brasil is Latin America's second-biggest bank and the world's seventieth largest bank. It is the oldest bank in Brazil, having been created in 1808. Banco do Brasil is owned by the Brazilian government, which holds 50% of its stock.
10. WEG ON
Market cap: $28.06 B
WEG is a Brazilian company engaged in global operations within the fields of electric engineering, power, and automation technology. The company is based in Jaraguá do Sul, Brazil, and manufactures electric motors, generators, transformers, drives, and coatings. WEG functions in nearly 100 nations and has a workforce of around 39,000 individuals.
Conclusion
Brazil has the largest economy on the South American continent, with a GDP of $1.9 trillion, or $8,900 per capita, according to the World Bank.
The country is home to some of the world's largest corporations, with yearly revenues in the tens of billions of dollars. These companies all make significant contributions to the country's GDP.
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