Nubank, Inter, and BTG Pactual are reportedly evaluating an acquisition of Argentine digital bank Brubank. A buyer would gain Brubank's local banking license and about 5 million users. No price or confirmed agreement has been disclosed.
Reported contenders
The report does not include official statements from the companies. Inter is described as the leading candidate, but the company said it is not in negotiations. Brubank CEO Juan Bruchou is seen as the most reluctant to approve an exit.
Buyer profiles
Nubank operates in Brazil, Mexico, and Colombia with a listed valuation near US$72 billion. Inter recently launched wallet services in Argentina using BIND. BTG Pactual is an investment bank registered with Argentina's securities regulator.
What the bank brings
Brubank runs a digital bank with accounts, payments, and card services in Argentina. A deal would shorten a buyer's path to local infrastructure and customers. Brubank also brings deposit and payroll data.
Any change of control would need approval from Argentina's central bank. The report did not include a price or a timeline. Brubank has not confirmed the sale process.
Read more: iproup.com