Daycoval Distribuidora de Titulos e Valores Mobiliários (DTVM), the group's first enterprise, was founded in 1968. These were troubled times, politically and economically. But the adverse environment that surrounded the newly founded institution would never completely dissipate. Nor would it intimidate a project that carried in its genetic code the ability to sail smoothly through a storm and, when in calmer times, continue on cautiously. It featured its own identity traits, allowing Banco Daycoval to fulfill its more than half a century of existence by delivering consistent results and growth, always with customer service as top of mind.
Two years after its founding, in 1970, Valco Corretora de Valores was launched, adding a service front that would prove essential to overcoming the hard period of hyperinflation. But the bank's business lines have been dramatically diversified since 1989, when Daycoval received the official license to become a multiple bank.
Subsequently, in 1995, with inflation already tamed by the Real Plan, the group's operations expanded into currency exchange transactions, a service supplemental to traditional credit operations. In 1997, while the turbulence in Southeast Asia broke with a long period of prosperity in the markets and raised concerns, Daycoval kicked off its regional expansion program, inaugurating its first branch outside the São Paulo capital: Campinas.
During the 2004 liquidity crisis in the midst of a period of shrinkage in the sector, when a number of Brazilian institutions found themselves in difficulty and even some foreign groups pulled out of the country, Banco Daycoval once again expanded its activities. That year, Daycoval Asset Management was created. For their part, payroll loans for individuals under the Daycred brand also were introduced.
In the wake of this growth, the former head offices, at Marquês de Itu in Santa Cecília, no longer were sufficient to house the operation. In 2005, Banco Daycoval's current headquarters were inaugurated on Avenida Paulista. Two years later, more precisely on June 29, 2007, the bank's first public primary stock offering was held. The capital injection of R$ 936.4 million prepared the operation to progress even further.
The January 21, 2008 edition of the Federal Official Gazette reported that the Central Bank of Brazil had granted authorization to Daycoval for the creation of a branch in the Cayman Islands, which opened on May 28 of that same year.
Two months later, Daycoval was approved by the BNDES as a Financial Agent. Thus, the bank further diversified its portfolio and expanded the range of services offered to clients who already were faithful to the institution through its corporate loan program. The intersection between these businesses maintained with the bank became even more fluid as of 2012, when current account debit operations were introduced.
In the second half of 2016, in the midst of a crisis that caused a generalized depreciation of assets in the market, the Public Offering for Acquisition of Daycoval's shares, acquired by the bank's founding and controlling family, was carried out. Thus, Daycoval remained a publicly traded company, but with no shares actually transacted on the stock exchange.
In a little over 50 years of history, Banco Daycoval became one of the largest Brazilian banks, ending the 2023 with R$ 77.1 billion in Total Assets, including an Expanded Credit Portfolio totaling R$ 57.2 billion. Regulatory Capital totaled R$ 7.2 billion. Much more than mere statistics, however, Daycoval is home to 3,544 people, most of them concentrated at the headquarters on Avenida Paulista. But they also can be found in our 50 branches distributed in 21 Brazilian states, plus the Federal District.
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