Brazilian banks struggle to pare down outsized branch networks
Avenida Paulista is a top tourist attraction in São Paulo, Brazil, with shops, restaurants, cultural and music venues lining the 2.7-kilometer road. It is also one of the country’s most over-branched areas. Over the years, retail banks have added a slew of branches along the avenue. Banco Bradesco SA and Itaú Unibanco Holding SA — Brazil’s the…