COMPARISON OF THE MICRO AND MACROECONOMIC DIMENSIONS OF THE INCORPORATION IN ACTIONS ITAÚ-UNIBANCO AND FROM THE INCORPORATION REAL - SANTANDER

This work focuses on corporate Mergers and Acquisitions (M&A). Its general objective is to compare the micro and macroeconomic dimensions of the Itaú-Unibanco share merger and the Real-Santander merger. Its specific objectives are: a) to discuss the M&A process in the Brazilian banking sector; b) discuss the transfer of climate, culture and technologies in the Brazilian banking M&A process. To this end, it uses the following methodologies: as an epistemological axis, the critical-dialectic method, historicizing the theme; as the logical axis of investigation, the hypothetical-deductive, starting from the main hypothesis that a national bank represents greater benefits for the country than a foreign bank; as a technical axis of investigation, a bibliographic and documentary approach was operationalized: official documents from the aforementioned companies were selected from their respective websites, fundamental bibliographies on M&A in the Brazilian banking sector available in specialized scientific journals. It is concluded that: a) the microeconomic dimensions of business M&A can be classified as: financial, legal-accounting,
climate, cultural and technological; b) the macroeconomic dimensions of business M&A can be classified as: monetary, fiscal, credit, capital and exchange rate; c) both the merger of Itaú-Unibanco shares and the Real-Santander merger obtained great synergistic micro and macroeconomic effects that helped both these financial conglomerates and the Brazilian nation to overcome the economic crisis established between 2008 and 2011; d) Itaú Unibanco Holding SA, as it has a higher average annual net profit than Santander (Brazil) SA and because it is a national bank,
converts greater investments, work, income and social inclusion into the Brazilian economy and society thanSantander SA, a Spanish bank, whose majority of its profits are converted into investments in the Spanish nation; e) in absolute terms, Itaú adds greater value than Santander, but not in relative terms (percentages of its net wealth); f) the stability of Itaú Unibanco Holding SA and Santander (Brazil) SA during the economic crisis
faced between 2008 and 2011 was the result of their M&A, especially the merger of Itaú-Unibanco shares and the Real-Santander merger, respectively; g) both Itaú and Santander are always innovating, diversifying their portfolio of products and services, increasing the quality of their service to their customers, increasing their storage and processing capacity for data and information; h) changes in the micro and macroeconomic dimensions of banking M&A, and perhaps in all other sectors, can occur suddenly, or gradually, or in one way in some of them, and another in others; i) M&A are excellent growth and development strategies, capable of stabilizing banks even in situations of serious economic crises, such as the one faced worldwide between 2008 and 2011; j) M&A continually affects and is affected by micro and macroeconomic variables; k) this work produces significant terminological, conceptual, taxonomic and content advances for the topic investigated. Therefore, rich contributions are produced that can support the national Fiscal Policy, especially with regard to the regulation of the defense of competition.