But on Tuesday, Itau was already shedding nearly 2% and Bradesco did the same.
Morgan, BB Securities Ltd. and Banco Bradesco were the joint managers and book runners on the issue.
Both have underperformed the market over the last six months, with Itau down 3.7% and rival Bradesco down 2.95%.
Bradesco is Brazil's largest private-sector bank and the country's third-largest financial services company.
Stock prices of the two biggest private auto lenders, Itau and Bradesco (BBD) are down by 23% and 13% respectively year-to-date.
Amador also adopted a third child, Maria Angela Aguiar, who is not a billionaire because she inherited fewer shares in Bradesco.
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Amador left the majority of his fortune to the Bradesco Foundation, which he founded in 1956 to benefit education in Brazil.
Maria Angela, the third adopted child, is not a billionaire because she received a smaller number of shares of Bradesco Bank.
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In the last three months, Bradesco and Itau are up over 7% while the Bovespa is up around 4.5% in dollar terms.
Such factors mean that Brazil's top three commercial banks, Bradesco, Itau and Unibanco, are strong enough to be predators rather than prey.
Bradesco, Itau and Unibanco have had great success, particularly in selling insurance.
Among the Brazilian bidders, Bradesco needs Banespa to stay out in front, and Itau needs it to come close to the top spot.
While government policy is a risk factor for Itau and Bradesco, few things are standing in the way of multinational Brazilian brewer Ambev (ABV).
Indeed, both Bradesco and Itau are registered to bid in a much-postponed auction for Banerj, the first of Brazil's state banks to be privatised.
Lia Maria Aguiar is the low-profile adopted daughter of the late Brazilian banker Amador Aguiar, the founder of Bradesco bank, one of Brazil's largest banks.
The deal may prompt acquisitions by Bradesco, previously the market leader.
In Brazil, Constantini is neutral weight big names like Petrobras (PBR), overweight Vale and Bradesco (BBD) and underweight all of the steel companies like Gerdau (GGB) and CSN (SID) .
Partially paid for by Bradesco, one of Brazil's biggest private banks, this is a useful pilot project for REDD, the burgeoning international effort to reduce deforestation and the greenhouse-gas emissions it causes.
The government owned banks are all lowered their lending spreads to corporates and individual accounts, too, with private lenders like Itau Unibanco (ITUB) and Bradesco (BBD) following the lead of federal juggernaut Banco do Brasil.
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Amador's daughters prevailed in court and sisters Lia and Lina Aguiar are billionaires thanks to their stake in Bradesco Bank, while the third daughter, Maria Angela, received fewer shares and does not make the list.
Brazil financials like Itau Unibanco (ITUB) and Bradesco (BBD) are trading at a discount, and no one wants to buy retail anymore, but these wholesale prices are not enough to attract investors, even with the credit stimulus announced Monday.
Among components of that ETF with the weakest showing for the week were shares of ICICI Bank Limited ( IBN), lower by about 7.8%, and shares of Banco Bradesco (BBD), lower by about 5.8% over the five days.
Among the largest underlying components of BIK, in trading today Petroleo Brasileiro S.A. ( NYSE: PBR) is up about 2%, Banco Bradesco S.A. ( NYSE: BBD) is up about 0.7%, and Vale S. A. ( NYSE: VALE) is up by about 2.6%.
Among the largest underlying components of BIK, in trading today Petroleo Brasileiro S.A. ( NYSE: PBR) is up about 0.4%, Banco Bradesco S.A. ( NYSE: BBD) is up about 1.3%, and Vale S. A. ( NYSE: VALE) is higher by about 0.8%.
Among the largest underlying components of EEM, in trading today Itau Unibanco Holding S.A. ( NYSE: ITUB) is off about 0.7%, Vale S. A. ( NYSE: VALE) is up about 0.1%, and Banco Bradesco S.A. ( NYSE: BBD) is lower by about 0.4%.
While 50% of GDP is driven by services, excluding financials, the BOVESPA is crowded and concentrated, with eight stocks making up more than half of the market cap of the exchange: Petrobras, Vale, Itau Unibanco, Ambev, Bradesco, Banco do Brasil, Santander, and OGX.
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Among the largest underlying components of ILF, in trading today Itau Unibanco Holding S.A. ( NYSE: ITUB) is up about 0.8%, Banco Bradesco S.A. ( NYSE: BBD) is up about 0.2%, and Companhia de Bebidas das Americas-AMBEV ( NYSE: ABV) is up by about 1.1%.
Among the largest underlying components of ILF, in trading today Itau Unibanco Holding S.A. ( NYSE: ITUB) is up about 0.4%, Banco Bradesco S.A. ( NYSE: BBD) is up about 0.4%, and Companhia de Bebidas das Americas-AMBEV ( NYSE: ABV) is higher by about 0.2%.
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Among the largest underlying components of ILF, in trading today Itau Unibanco Holding S.A. ( NYSE: ITUB) is up about 0.6%, Banco Bradesco S.A. ( NYSE: BBD) is up about 0.6%, and Companhia de Bebidas das Americas-AMBEV ( NYSE: ABV) is up by about 0.7%.
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