Creditas wins approval to acquire Andbank’s Brazilian banking licence

Creditas has received regulatory approval to acquire Andbank’s Brazilian banking licence, completing a transaction that began in 2022. The deal includes a carve‑out under which Andbank retains 75% of its private‑banking business in Brazil.

Andbank said it employs about 60 professionals in the country and reported roughly 30% growth in business volume over the past year. The group said the transaction lets it concentrate fully on its specialist private‑banking segment while preserving a differentiated offering that combines an open‑architecture digital investment platform, bespoke banking services for high‑net‑worth clients, and a multi‑family‑office advisory model.

As part of the wider arrangement, Andbank led the initial close of Creditas’s Series G financing round with an investment of $108 million, becoming one of eight reference shareholders in Creditas, which is valued at approximately $3.3 billion.

“We are very excited to become a significant shareholder in Creditas to jointly advance our businesses and capitalize on the synergies between both companies,” said Carlos Aso, CEO of Andbank.