JPMorgan-Backed C6 Bank to Launch Brazil Branch Network

C6 Bank, a JP Morgan-backed digital bank, has revealed it is set to open its first five brick-and-mortar branches in Brazil.

C6's head of high income announced that the bank's goal for the coming months is to have at least one office in each of the country's capital cities and in other towns with a large number of potential wealthy clients.

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The move comes about a month after C6, established in 2019, launched Carbon, a platform focused on the roughly 20 million account holders who have an income of more than USD 2,862 per month.

C6's face-to-face units will have about 10 employees each and are expected to increase client engagement by providing a more detailed and customised approach than its larger rivals.

With the physical branches initiative, C6 aims to increase its share in the high income market, which it expects to cover some 5 million people in the country.

(Source: The Paypers)