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JPMorgan Chase Announces Entered Strategic Relationship & Ownership Position In Brazil’s C6 Bank

By John F. Heerdink, Jr.

Reportedly, JPMorgan Chase & Co (JPM) and Brazilian digital bank, C6 Bank have entered into a strategic agreement, where JPMorgan Chase will take a 40% ownership stake in the full-service, subject to regulatory approvals.

“We’re excited to be partnering with one of Brazil’s fastest growing digital banks. We’ve admired C6 Bank, its management team and their strategy for some time. With an impressive platform and product suite, they are well-positioned to sustain their growth trajectory and build a strong franchise. We look forward to supporting C6 Bank in its aspiration to be a long-term winner in the Brazilian banking market.” stated Sanoke Viswanathan, CEO of International Consumer for JPMorgan Chase.

Marcelo Kalim, CEO,  and co-founder of C6 Bank stated, “Partnering with JPMorgan Chase, a global leader in financial services and a trusted name in retail banking, is a game-changer,”  “With their support, we will invest and scale our business in a way that continues to provide Brazilian customers with best-in-class digital banking products to help them accomplish their goals.” 

Launched in 2019, C6 Bank offers a full suite of products including multi-currency checking and savings accounts, travel and loyalty programs, debit and credit cards, investment and lending products for individuals as well as banking and payments products for small businesses.

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

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(Read Original Story: JPMorgan Chase Takes 40% Stake in Brazil’s C6 Bank in Business Wire)


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