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| | CNN.com - HSBC adds to Brazilian assets - Mar. 10, 2003 |
 | | The buy is likely to see HSBC overtake Citibank, Citigroup's commercial banking unit, to become the fourth-largest asset management firm in Brazil behind state bank Banco do Brasil, and private banks Itau and Bradesco. |
 | | HSBC, which entered Brazil in 1997 when it took over ailing Banco Bamerindus, had 20.5 billion reais under management in January and was in fifth place, less than 100 million reais in assets short of fourth-placed Citibank. |
 | | HSBC, which is the largest bank in Europe and also has extensive Asian operations, reported last week tha annual pre-tax profit rose 20.6 percent to $9.65 billion, at the bottom end of expectations, as charges for bad debts eased. |
| cnn.com /2003/BUSINESS/asia/03/10/brazil.hsbc.reut/index.html (417 words) |
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