The Daily Deal says Brazil’s second largest financial group Banco Itau SA is negotiating to buy the Brazilian arm of Fiat SpA’s vehicle financing division to boost its share of the specialised loan business.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Banco Fiat, the Italian car maker’s vehicle financing arm and a unit of Fidis SpA, has $US1.3 billion in assets and a $1 billion vehicle financing loan portfolio.

The report said a price could not be determined, but it noted that Ford, the fourth-largest vehicle seller in Brazil, sold its Brazilian vehicle financing unit earlier this year for $434 million.

Fiat Automoveis, the Brazilian subsidiary of Fiat, is the top selling car maker in Brazil, the report said.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact