Top 10 Largest Companies In Brazil By Market Cap (2024 Update)
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| The Largest Companies In Brazil By Market Cap (2024 Update) |
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According to a Deloitte report, the Brazilian economy has been extremely robust this year. Private spending increased by 3.8% in the second quarter, and data from the third quarter indicate that household consumption has risen.
Furthermore, the research emphasizes that the services sector has been performing exceptionally strongly. Inflation-adjusted revenues in the lodging and food services business increased by 5.8% in July compared to the previous year. In addition, retail sales increased by 2.4% in July, despite a modest decrease in fuel sales over the quarter.
What are the largest public companies in Brazil?
Brazil is not only one of the world's largest and most diversified countries, but it is also a major economic force.
With approximately 213 million inhabitants, Brazil is the world's sixth most populated country and Latin America's largest. It is also the continent's wealthiest, with the world's 12th largest economy.
Brazil, which was previously a sugar and gold colony, rapidly industrialized in the twentieth century. Today, it is a top ten industrial steel exporter, with the country's economic strength primarily derived from natural resources and finance.
Top 10 Largest Companies In Brazil By Market Cap (2024 Update)
1. Petrobras
Market cap: $101.55 billion
Petrobras is a publicly traded firm whose largest stakeholder is the Brazilian federal government. Petrobras operates as an integrated energy corporation in the following segments: exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, power, chemical gas, and biofuels. The corporation is a leader in the Brazilian oil industry and now operates in 18 other nations. It produces 2,539,000 barrels of oil equivalent per day.
2. Itaú Unibanco
Market cap: $63.33 billion
Itaú is the largest Latin American bank and one of the largest banks in the world, with roughly 96,000 workers and operations in 20 countries across the Americas, Asia, and Europe. Itaú is a universal bank that offers services and products to individuals and businesses of all sizes, including huge transnational groups and local micro-entrepreneurs. In Brazil, the bank operates around 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 corporation that operates a digital banking platform. The Company provides goods for its consumers during the five financial seasons: spending, saving, investing, borrowing, and protecting. Its spending solutions are intended to allow users pay for goods and services in their daily lives using a personalized credit line or quickly by mobile phone, while also collecting loyalty points and rewards on applicable transactions. Its savings solutions are intended to assist consumers in depositing, managing, and saving money in interest-bearing accounts that include complimentary debit cards. BTG Pactual offers investment solutions to assist consumers in making informed decisions about their investments.
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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
Banco Bradesco is Latin America's third-largest banking institution. Its offerings include commercial banking, insurance, pension plans, credit card services, corporate financing, savings bonds, and more. Amador Aguiar founded the bank in 1943, and his three adopted daughters inherited his stake and have become billionaires. Aguiar passed away in 1996.
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 firm that operates globally in electric engineering, power, and automation technology. The company is headquartered in Jaraguá do Sul, Brazil, and produces electric motors, generators, transformers, drives, and coatings. WEG operates in almost 100 countries and employs approximately 39,000 people.
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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