At the end of the first quarter of 2024, the active client base in Brazil's retail banking sector reached 280.3 million. This represents a quarterly growth rate of 1.4% and an annual growth rate of 6.1%. In terms of market share by the number of clients, five competitors lead the sector. NUBANK holds a significant lead with 20% of the market. ITAU follows with 11.3%, then BRADESCO with 9.3%. CAIXA ECONÔMICA FEDERAL and SANTANDER are close, with 7.3% and 7.2%, respectively.
Rounding out the top ten competitors in market share are BB, BTG PACTUAL/PAN, C6 BANK, BANCO CSF, and BMG. Collectively, these ten leading competitors command 69.7% of the total client market share. Notably, NUBANK stands out with the most significant increase in market share, gaining 5.71 percentage points YoY. Other competitors showing considerable growth in client market share include WILL BANK with 1.3%, MERCADOPAGO with 0.52%, NEON BANK with 0.42%, and PINE BANK with 0.35%.
In terms of market share growth by the number of retail credit operations, NUBANK again leads with an increase of 2.24 percentage points. Following NUBANK, BANCO ORIGINAL gained 0.29 percentage points, WILL BANK gained 0.26 points, INTER increased by 0.20 points, and BRADESCO saw a growth of 0.16 points.
Rounding out the top ten competitors in market share are BB, BTG PACTUAL/PAN, C6 BANK, BANCO CSF, and BMG. Collectively, these ten leading competitors command 69.7% of the total client market share. Notably, NUBANK stands out with the most significant increase in market share, gaining 5.71 percentage points YoY. Other competitors showing considerable growth in client market share include WILL BANK with 1.3%, MERCADOPAGO with 0.52%, NEON BANK with 0.42%, and PINE BANK with 0.35%.
In terms of market share growth by the number of retail credit operations, NUBANK again leads with an increase of 2.24 percentage points. Following NUBANK, BANCO ORIGINAL gained 0.29 percentage points, WILL BANK gained 0.26 points, INTER increased by 0.20 points, and BRADESCO saw a growth of 0.16 points.
