<p>JPMorgan Chase & Co has acquired a 40 per cent stake in Brazilian digital bank C6 Bank, the companies said on Monday.</p>.<p>The deal marks JPMorgan's debut in Brazil's retail banking. The US bank has concentrated its activity in Brazil in corporate lending and investment banking.</p>.<p>Founded in 2019 by former partners of Latin America's largest independent investment bank, Banco BTG Pactual SA , C6 has 7 million clients, according to a statement.</p>.<p>"Partnering with JPMorgan Chase, a global leader in financial services and a trusted name in retail banking, is a game changer," said Marcelo Kalim, CEO and co-founder of C6 Bank.</p>.<p>The acquisition value and C6 valuation have not been disclosed.</p>
<p>JPMorgan Chase & Co has acquired a 40 per cent stake in Brazilian digital bank C6 Bank, the companies said on Monday.</p>.<p>The deal marks JPMorgan's debut in Brazil's retail banking. The US bank has concentrated its activity in Brazil in corporate lending and investment banking.</p>.<p>Founded in 2019 by former partners of Latin America's largest independent investment bank, Banco BTG Pactual SA , C6 has 7 million clients, according to a statement.</p>.<p>"Partnering with JPMorgan Chase, a global leader in financial services and a trusted name in retail banking, is a game changer," said Marcelo Kalim, CEO and co-founder of C6 Bank.</p>.<p>The acquisition value and C6 valuation have not been disclosed.</p>