Banco Sicredi - Brazil

People who cooperate grow. That’s the motto for the Sicredi cooperative system. With the support of Rabo Development, Sicredi wants to seize retail banking opportunities in Brazil.

Seizing retail banking opportunities in Brazil

The Sicredi System comprises 113 credit cooperatives that operate retail networks in rural areas across 10 Brazilian states: a three-tier cooperative with a strong agricultural focus.

Although a relatively small player in Brazil’s banking industry, Sicredi is strategically located in the south and centre of the country, and holds significant market share in the main agricultural areas of Brazil. Sicredi is Brazil’s seventh largest financial institution in terms of customer service points.

In 2011, Rabo Development took a 25 percent strategic minority stake in Banco Cooperativo Sicredi S.A., the central organisation of the cooperatives. The reason: together we form a perfect match, with agricultural roots and a firm commitment to cooperative principles.

With our investment, we can help Sicredi maximise value to credit cooperatives and members. The partnership gives Sicredi access to Rabobank’s technical expertise and management services. This helps in strengthening cooperative structures and business operations that have rapidly expanded in recent years, and opens doors to other Rabobank group members including Rabobank do Brasil and De Lage Landen.

Since investing in Sicredi, Rabobank has performed an operational review of the company, evaluating processes and identifying both strengths and improvement areas. A joint growth strategy workshop then examined how Sicredi could develop into a fully-fledged retail bank, while maintaining a rural orientation and anchoring corporate governance. Special areas of interest concerned operating efficiency, client segmentation and services to non-member clients in lower income brackets. Late in 2011, Sicredi Empresas was established to help develop special products and distribution forms for business clients.

Brazil is by far the largest economy in Latin America, with agribusiness accounting for over 25% of GDP. We believe the country offers plentiful growth opportunities in rural and retail banking, and Rabo Development is committed to assisting Sicredi in taking advantage of such prospects.

The Sicredi System

Customers 3.5 mln
Outlets 1.523
Total assets USD 20 bln.
Rabobank’s stake 24%


Banco Sicredi Brazil

Office Address Av. Assis Brasil 3940 - 10 andar - Torre C
CEP 91060-900