HSBC Bank (Brazil)
HSBC Bank Brasil S.A. - Banco Múltiplo is subsidiary of Banco Bradesco in Brazil.
| Company type | Subsidiary |
|---|---|
| Industry | Finance |
| Founded | 1952 |
| Headquarters | São Paulo, Brazil |
Key people | Alexandre B.C. Guião (Chairman) |
| Products | Financial services |
| Revenue | US$11.4 billion (2012) |
Net income | US$595.7 million (2012) |
| Total assets | US$56.3 billion (2012) |
Number of employees | 28,000 |
| Parent | HSBC Holdings plc |
| Website | www |
HSBC established Banco HSBC Bamerindus SA to take over Banco Bamerindus do Brasil S.A. in March 1997 and the bank’s name was changed to HSBC Bank Brasil S.A. - Banco Múltiplo in 1999. It was HSBC's lead regional subsidiary in South America and as such it was the regional reporting line for several other countries. It was sold to Bradesco in June 2016.
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