Brazil –

Brazil has faced its share of social, political and economic turmoil. Despite the hardships, it has made great progress over the years and currently has 5 of its banks in the Top 17 BRIC banks. The banks present on the list are - Banco do Brasil – 7^th; with an asset of $481,179 million, Itaú Unibanco – 8^th; with an asset of $447,925 million, Banco Bradesco Brazil – 9^th; with an asset of $378,150 million, Caixa Economica Federal – 15^th; with an asset of $237,640 million and Banco Santander-Brasil – 16^th; with an asset of $229,690 million. According to Thomas White, a global investing firm, the banks of Brazil are examples of optimism. Since, unemployment has almost halved from 2003, there is more spending power in the hands of the working and middle-class people. Also, the mortgage lending section of the banking sector of the country is expected to grow in the coming years. Moreover, it has a good credit rating, according to Serasa Experian, a financial rating company. Brazil is also aiming at creating a positive credit registry. Despite the ups and downs witnessed by Brazil, their hardy nature has proved that it is a strong contender among the BRIC nations.