BTG Pactual Announces Acquisition of MY Safra Bank in the United States

BTG Pactualone of the largest financial institutions in Brazil, announced the signing of final documents regarding the acquisition 100% of the share capital of MY Safra BankFSB, a financial institution based in New York.

Founded over a decade ago, MY Safra Bank operates primarily in the private banking, commercial and residential real estate financing markets, and also offers general lending products.

At the end of March 2024, the bank had a loan portfolio of $275 million, total assets of $404 million and net capital of $46 million.

This acquisition is part of BTG Pactual’s global expansion strategy in the market Wealth management and personal banking segments in North America, where the bank already has a significant presence.

Completion of the transaction is subject to the verification of certain preliminary conditions, including obtaining all necessary regulatory approvals from the Central Bank of Brazil, the Federal Reserve Board (FED) and the Office of the Comptroller of the Currency (OCC).