Brazil’s Itaú Bank gains conditional OCC approval for U.S. bank
Itaú Bank in Brazil was granted conditional approval from the Office of the Comptroller of the Currency to open a nationally chartered bank.
The large Latin American bank received the approval on Aug. 14.
The proposed bank, which filed its applications in March, would serve high- and ultra-high-net-worth clients with ties to Brazil and Latin America via a Miami office.
The approval comes months after Brazil’s Nu Holdings received conditional approval for a national bank charter.