JPMorgan Chase has increased its ownership stake in Brazilian digital bank C6 from 40% to 46%. This strategic move, revealed in a joint statement by both banks, reflects C6’s substantial growth in client base, surging from 8 million in June 2021 to 25 million. Notably, C6’s credit portfolio has grown from 9.5 billion reais to 40 billion reais ($8.2 billion) since JPMorgan’s initial investment, despite the bank reporting a loss of 2.2 billion reais in the previous year due to provisions for credit losses.
JPMorgan Boosts its Stake in Brazilian FinTech C6 Bank to 46%
