Febraban post against Nubank is successful among bank executives

The post by the Brazilian Federation of Banks (Febraban) criticizing Nubank and Zetta, an association founded by Nubank, Mercado Pago and Google at the beginning of the year, had a good impact on executives at the country’s major financial institutions. Google is no longer part of the association. The publication on LinkedIn has 517 reactions, including likes given by economists from Itaú, Santander, Bradesco and XP.

In the post, Febraban accused the fintechs of avoiding paying taxes and labor obligations.

Vice-President Director of Febraban, Leila Melo was one of the executives who liked the publication on the social network. She is a member of the Executive Committee of Itaú Unibanco and executive director responsible for the Legal, Ombudsman, Communication, Sustainability, Institutional and Government Relations areas.

Fernando M. Gonçalves, who heads the area of sell-side in the macroeconomic research team at Itaú BBA, he also liked the publication. The same was done by Alexandre Abreu, CEO of Banco Original, Fernando Honorato Barbosa, chief economist at Bradesco, and Rogério Panca, director of cards at Santander.

Through XP, three partners approved the post: Renato Bereznjak Cunha, Rafael Tessari and Thomas Beattie.

Another text that has been successful on LinkedIn among executives of large banks was written by Igor Puga, marketing and brand director at Santander. He criticizes the initiative of fintech Mercado Pago to have placed a dinosaur at the doors of bank branches on Av. Paulista and Faria Lima, in São Paulo.

“Instead of building this kind of childish approach, why not make a public clarification that justifies the fact that the rate of your machine is higher in debit, credit and installments than the one offered by the bank where I work – the same one that do you insinuate to be of the stone age?” wrote Puga. “Doing a micareta at the door of a bank branch that pays taxes and taxes, such as 20% CSLL, while your corporation pays 9%, an unmistakable difference of 122.2%, sounds even more cruel in their rates above ours.”

(Update at 1:37 pm, September 20, 2021: Although Google was part of founding Zetta earlier this year, Google is no longer part of the association. Information has been added to text.)