Itau Bank Strategy – Reason Why Itau Bank Should Consider Bric Strategy
Reason why Itau bank should consider BRIC strategy:
BRIC is stands for Brazil Russia India and china .This is a group of countries that have a very large development margin. Their market is very promising .BRIC countries also have special aspect because of the population that exists in this countries. Due to the demographic and economic potential we realize that this countries are likely to influence the world market significantly. The population value in this countries is about 40%of the world population. These countries also cover over a quarter of the land in the world. These countries also account for 25% or more of the global GDP (Sherpa, 2015).
The financial institution ITAU bank is based in Brazil whereby Brazil is a member of the BRIC countries (Bloomberg L.P, 2015). ITAU bank also well known as the Itaú Unibanco. It was formed by the institution Banco Itau and Uibanco. This merger formed one of the largest banks in the southern hemisphere and 10th largest in the world grading with reference to market value.
ITAU bank has a wide market for growth and development. Considering the growth factor of the associated countries. Itau bank being one of the largest financial conglomerates, are likely to be the potential financiers of this countries. This is because they are well known and they also have the capability to finance this markets.
It has an ambient location that is located in Brazil who is a member the BRIC countries. This financial institution will utilize this opportunity in offering bank services to this coop rate markets .Brazil being a member play a major role in influencing the other members to this bank services. The size of the population of this countries has a great impact. We find that population and demographics have a direct impact towards economic growth and its development. Statistics from Gold Man Sach forecasted that India and china are likely to be the third and first largest