Business

XP's biggest rival, BTG prepares to enter banking retail

For this, the institution will have to make Banco Pan and its investment platform grow a lot

Photo: Pan/Facebook
Ler em português
  • Banco Pan focuses on classes C, D and E, in addition to credit for micro and small entrepreneurs;
  • And the investment platform, on the other hand, wants to attract a larger mass of A and B clients.

According to the newspaper O Estado de S.Paulo, BTG Pactual, XP‘s great rival known for being the institution of more affluent investors, is preparing its entry in Brazilian banking retail.

ALSO READ: Latin America is becoming the land of fintechs

To this end, the neobank Pan–which reported a profit of BRL 515.9 million last year (133% higher than in 2018) and has just launched its digital account for customers of classes C, D and E–and the platform BTG Pactual’s digital investment strategy, still without a proper name and focusing on clients A and B, should grow, and a lot.

ALSO READ: Brazilian Fintech Trigg is acquired by Vector investment fund

To reinforce the platform’s operations, launched in 2016, BTG would be negotiating the purchase of brokers. Guide, a broker from the Chinese group Fosun, would be among those targeted, according to Estadão. In the case of Pan, one of the strategies is to increase the supply of credit for micro and small entrepreneurs, with special attention to financing working capital for small and medium-sized companies.