Urdapilleta, EduardoStephanou, Constantinos2012-03-192012-03-192009-01-01https://hdl.handle.net/10986/4007The objective of this paper is to analyze the industry structure of banking services in Brazil in order to shed light on financial performance and its drivers at a disaggregated level. The study illustrates how differences across market segments - which tend to be averaged out in aggregate analysis - need to be taken into account when analyzing performance and designing public policy for the banking sector. In particular, retail banking is found to be less sensitive to price competition and to exhibit considerably higher returns than corporate banking. The authors identify and discuss the factors underlying revenues, costs, and risks in each market segment, and conclude with policy implications.CC BY 3.0 IGOACCOUNTINGACCOUNTING PRACTICESARREARSASSET MANAGEMENTASSETS RATIOSAUCTIONBALANCE SHEETBALANCE SHEETSBANK ACCOUNTSBANK HOLDINGBANK HOLDING COMPANIESBANK LENDINGBANK RATESBANKING INDUSTRYBANKING MARKETBANKING SECTORBANKING SERVICESBANKING SYSTEMBANKRUPTCYBANKRUPTCY LAWBARRIERS TO ENTRYBASIS POINTSBINDING CONSTRAINTBORROWERBRANCH NETWORKBRANCH NETWORKSBROKERAGEBUSINESS CYCLECAPITAL ADEQUACYCAPITAL BASECAPITAL MARKETSCAPITAL MARKETS DEVELOPMENTCAPITAL REQUIREMENTCAPITAL REQUIREMENTSCAPTIVE MARKETCAR LOANSCENTRAL BANKCHECKSCHIEF FINANCIAL OFFICERSCLEARINGHOUSECOLLATERALCOMMERCIAL BANKSCONSOLIDATED FINANCIAL STATEMENTSCONSUMER DURABLESCONTRACT ENFORCEMENTCORPORATE BANKINGCORPORATE GOVERNANCECORPORATE MARKETCREDIT CARDSCREDIT COOPERATIVESCREDIT DECISIONCREDIT HISTORYCREDIT INFORMATIONCREDIT LOSSESCREDIT MARKETSCREDIT OUTSTANDINGCREDIT PROVIDERSCREDIT RATINGSCREDIT REPORTINGCREDIT RISKCREDIT RISKSCREDIT SCORINGCREDIT SOURCESCREDIT UNIONSCREDITORCREDITOR RIGHTSDEBTDEBT COLLECTIONDEBT LEVELSDEFAULT RATESDEMAND DEPOSITSDEPOSITDEPOSIT ACCOUNTSDEPOSIT INSURANCEDEPOSITSDERIVATIVESDIRECTED CREDITDIVERSIFIED MARKETDOMESTIC CURRENCYECONOMIC MANAGEMENTECONOMIC RISKSENTRY BARRIERSEQUITY MARKETSEXCHANGE COMMISSIONFINANCIAL DEVELOPMENTFINANCIAL INFORMATIONFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL PERFORMANCEFINANCIAL RATIOSFINANCIAL SECTORSFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL STATEMENTSFINANCIAL SYSTEMFINANCIAL TRANSACTIONSFIXED ASSETSFIXED COSTSFORECLOSUREFORECLOSURE PROCEDURESFOREIGN BANKSFOREIGN CURRENCYFOREIGN CURRENCY LOANSFOREIGN EXCHANGEGOVERNMENT ACCOUNTGOVERNMENT BONDSGOVERNMENT INTERVENTIONSGOVERNMENT INVOLVEMENTGOVERNMENT POLICIESGOVERNMENT POLICYGOVERNMENT SECURITIESHOUSINGHOUSING FINANCEINCOME TAXINFORMATION ASYMMETRIESINFORMATION ON BORROWERSINFORMATION TECHNOLOGYINSTITUTIONAL CAPACITYINSURANCEINSURANCE MARKETSINTEREST EXPENSEINTEREST INCOMEINTEREST MARGININTEREST RATEINTEREST RATE RISKINTEREST RATESINTERMEDIATION SPREADSINTERNATIONAL BANKINTERNATIONAL FINANCIAL CRISISINTERNATIONAL FINANCIAL STATISTICSINVESTINGINVESTMENT BANKINGINVESTMENT CLIMATELEASED ASSETSLEGAL RIGHTSLENDING REQUIREMENTSLEVYLIABILITYLIQUIDITYLOANLOAN LOSS PROVISIONSLOAN PRODUCTLOAN PRODUCTSLOAN RATESLOAN SPREADLOAN SPREADSLOANS TO INDIVIDUALSLONG-TERM DEBTLONG-TERM FINANCELONG-TERM RESOURCESMACROECONOMIC ENVIRONMENTMACROECONOMIC INSTABILITYMANDATESMARKET DEVELOPMENTSMARKET FOR LOANSMARKET INTEREST RATESMARKET PRACTICEMARKET SHAREMARKET STRUCTUREMATURITYMICRO-ENTERPRISESMICROCREDITMIGRATIONMINIMUM CAPITAL ADEQUACY RATIONET OPERATING INCOMENEW ENTRANTSNON-PERFORMING LOANSNPLOPERATING COSTSOPERATING EXPENSESOPERATIONAL RISKSOVERHEAD COSTSOWNERSHIP STRUCTURESPAYMENT SYSTEMPAYMENT SYSTEMSPENSIONPENSION FUNDSPERSONAL LOANSPRIVATE BANKPRIVATE BANKSPRIVATE CREDITPRIVATE CREDIT BUREAUSPROBABILITY OF DEFAULTPRODUCTIVITYPROFITABILITYPROFITABILITY MEASURESPUBLIC BANKSPUBLIC POLICYRATE OF RETURNRATES OF RETURNREPOSRESERVERESERVE REQUIREMENTSRETAIL BANKINGRETURNRETURN ON ASSETSRETURNSRISK MANAGEMENTRISK WEIGHTED ASSETSRURAL CREDITRURAL FINANCESAVINGSSAVINGS ACCOUNTSSAVINGS DEPOSITSSECURITIESSETTLEMENTSHORT MATURITIESSMALL BUSINESSSMALL BUSINESSESSOLVENCYSTOCK EXCHANGESUBORDINATED DEBTTAXTAXATIONTIME DEPOSITSTRADINGTRANSACTIONTRANSPARENCYTREASURYTREASURY LINEVALUATIONSVARIABLE COSTSWorld Bank10.1596/1813-9450-4809