BTG Pactual seeks to raise up to $380 million through a share sale to finance the expand of its digital retail banking operation. It is reported that the bank would sell 28.5 million units with one common share and two preferred shares.
Roberto Sallouti, CEO of BTG Pactual, said in a statement, “Our focus is on exceeding expectations and offering the best experience to our customers, and Amos Genish has unique expertise as a technology and retail entrepreneur. We are reaping the benefits of our significant investment in technology throughout the Bank over the past few years, and we will now extend our product and services offering to all retail segments.”
The digital platform was created in 2016 and is available for retail clients. In practice, the platform will allow clients to open accounts for free and providing them access to portfolio management solutions, media reports said.
BTG Pactual is is the largest investment bank in the region. It operates across investment banking, corporate lending, sales and trading, wealth management and asset management markets. The bank was established in 1983 with deep focus on customer excellence.
Sallouti added “”We are extremely proud of what we are building and of how we conducted our businesses during this unprecedented crisis, and we are prepared to capture new opportunities, with a solid capital and liquidity position. The success of this offer reinforces our commitment to generating the best return for our shareholders and society.”