Then, in April 2006, Itaú purchased the Brazilian operations of BankBoston, a subsidiary that Bank of America acquired with its purchase of FleetBoston.
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In 1964, Banco Federal Itaú S.A. merged Banco Federal de Crédito and Banco Itaú, a rural bank belonging to a group originated in Itaú de Minas, in Minas Gerais countryside.
Itaú CorpBanca is the third largest commercial bank in Chile, the bank is owned by Itaú Unibanco, the second largest bank in Latin America by assets, only after Banco do Brasil.
The bank has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York, Santiago, Shanghai and Tokyo On August 22, 2009, Itaú Unibanco and insurance company Porto Seguro disclosed that they had entered into an alliance.
Also acted in campaigns and TV commercials to Bradesco, SunBlock, the defunct Banco Nacional, Ponto Frio, Itaú, IBM, Avon, Hotel Sofitel, Gelol, Brastemp, Jardim Sul shopping mall, Banco do Brasil, Rexona, Palmolive and others.
Currently the company its owned by the Brazilian billionaire Jayme Garfinkel and the bank Itaú Unibanco, through PSIUPAR (Porto Seguro Itaú Unibanco Participações S.A.).