What are the Solidest and How to Assess Risks?
Basel, immobilization, profitability and FGC protection index: understand what really matters when choosing where to save your money.
Introduction
In recent months, cases involving institutions like Banco Master and Will Bank have rekindled an old concern of Brazilians: after all, is our money really safe in banks?
When news of financial difficulties in the sector emerges, it is natural that investors and currentists begin to question the security of the institutions in which they trust their economies.
But there is a problem in this discussion. Many people associate security with the size of the bank, the popularity of the brand or even the quality of the application. Although these factors may influence our confidence, they are not enough to determine the financial health of an institution.
To understand the strength of a bank, we need to look at its numbers, its ability to absorb losses, the quality of assets and the way it manages its risks.
In this article, we will analyze 12 of the main financial institutions used by the Brazilians, explain the most important indicators and understand what differentiates each one of them.
The aim is not to provoke alarmism or to point institutions as safe or insecure in a definitive way, but to provide information for more conscious financial decisions.
1. What really determines the safety of a bank?
Before comparing institutions, we need to understand some indicators that help to assess their financial health.
Basel Index: the ability to absorb losses
The Basel Index it is one of the main indicators of bank soundness. It relates the regulatory capital of an institution to the risks assumed in its operations, helping to assess its ability to absorb any losses.
In general, the higher the index, the greater the bank's property protection in relation to the risks considered. However, this indicator does not guarantee absolute security, and it is necessary to evaluate factors such as liquidity, asset quality and risk concentration.
To better understand its operation, calculation and limitations, check out our article: Blip
Capitalization index: how much capital is committed?
The immobilization index helps to identify how much of the regulatory capital is committed to permanent assets subject to prudential limits.
In general, lower indices indicate lower commitment of this capital. However, this does not necessarily mean that the institution has more cash available.
A digital bank, for example, can have a less intensive structure in physical assets than a traditional institution, without this automatically representing a higher financial condition.
Therefore, immobilization should be analysed as a complementary indicator, not as a direct measure of liquidity.
Profitability: profit is also a matter of security
An institution that can generate positive results on a recurring basis has better conditions to strengthen its assets, finance its operations and face periods of difficulty.
But it's not enough to observe the profit of a single quarter.
It is important to analyze the evolution of results, the inadequacies, the provisions for losses and the ability to maintain profitability in different economic scenarios.
A bank may have high profits and at the same time take excessive risks to achieve them.
Liquidity and credit quality
Two factors deserve special attention.
Liquidity represents the ability to meet financial obligations within the time limits provided for. The credit quality shows the level of risk associated with loans granted.
An institution may have adequate capital and still face difficulties if it relies excessively on unstable financing or has a significant deterioration in its credit portfolio.
Therefore, no isolated indicator is sufficient to determine the safety of a bank.
2. The main Brazilian banks: solidity, risks and differentials
The following institutions were selected for their relevance in the Brazilian market and for their presence in the daily lives of consumers.
The analysis considers characteristics of business models, operational history and factors relevant to risk assessment.
Important: the order of presentation does not represent an official security ranking. Financial indices change every quarter and should be consulted on the same basis to allow appropriate comparisons.
1. Itaú Unibanco
Itaú is one of the largest private financial institutions in Brazil and an important reference when the subject is scale, profitability and diversification of revenues.
Its operation combines credit, investment, insurance, cards and financial services for individuals and businesses. This diversification helps to reduce the dependence of a single source of revenue.
Another differential is its historical ability to generate significant results, maintaining investments in technology and operational efficiency.
This does not eliminate credit and market risks, but offers a robust structure to face periods of instability.
In practice, Itaú can combine the presence of a traditional bank with a growing digitization strategy.
Attention: monitor the evolution of default, the quality of the credit portfolio and the capital indicators.
2. Bank Safra
The Bank Safra has a historically associated position with asset management, the customer service of high-income customers and a careful approach to credit granting.
Its business model favours long-term financial relationships and specialized services, with a significant presence in the business and investment segments.
The reputation of conservatism is a differential, but it does not replace the analysis of its financial indicators.
For those who value customer service personalized and heritage solutions, Safra remains a relevant institution.
Attention: observe portfolio concentration, liquidity and the evolution of results.
3. BTG Pactual
The BTG Pactual has a different profile of traditional commercial banks.
Its activities are particularly relevant in investment management, administration of resources, capital market operations and specialized financial services.
This model provides revenue generation opportunities, but also requires attention to exposure to market risks, credit and counterparty.
The bank's profitability and expansion capacity are important factors, although they should not be confused with the absence of risk.
BTG stands out for customers interested in a wide platform of more sophisticated financial investments and services.
Attention: monitor the composition of assets, liquidity, market exposures and capital adequacy.
4. Federal Economic Box
The Caixa occupies a unique position in the Brazilian financial system.
As a federal public financial institution, it has a central role in real estate credit, in the implementation of public policies and in the provision of banking services to the population.
Its economic relevance and the link with the federal government are important factors to understand its institutional profile.
However, the existence of state control does not mean that all its products have unlimited guarantee of the National Treasury.
The security of deposits and investments remains dependent on the characteristics of each product and the applicable rules.
The Box is particularly relevant for housing financing, social programs and financial services of wide national coverage.
Attention: evaluate the capital indicators, the concentration on real estate credit and the effects of public policies on the operation.
5. Bradesco
Bradesco remains among the largest private banks in the country, with a significant presence in credit, insurance, welfare and financial services.
Its extensive network of customer service and business diversification are important competitive advantages.
The insurance segment, in particular, contributes to the composition of the group's results.
In recent years, the bank has also faced challenges related to the profitability and quality of certain credit portfolios, reinforcing the importance of monitoring its operational recovery.
For customers who value customer service face and traditional banking relationship, Bradesco remains a relevant alternative.
Attention: monitor the evolution of inadequacies, provisions and recovery of profitability.
6. Santander Brazil
Santander combines a relevant banking operation in Brazil with its participation in an international financial group.
Its activities include credit, cards, investments, financing of vehicles and services for companies.
Integration with a global group provides access to operational experience and institutional resources, but does not mean that all the obligations of the Brazilian subsidiary are automatically guaranteed by the controller.
The bank seeks to balance operational efficiency, digitization and a traditional customer service structure.
It is an institution that offers a wide range of products, serving different customer profiles.
Attention: observe the capital indices, profitability, inadequateness and evolution of brazilian operations.
7. Bank of Brazil
The Banco do Brasil has one of the longest trajectories of the national financial system and occupies a strategic position in rural credit, in the customer service business and in the provision of services to the public sector.
Its size, customer base and economic importance represent relevant characteristics for the analysis of its stability.
However, the bank faces its own credit portfolio risks, especially by exposure to agribusiness.
The deterioration in the quality of rural credit has pushed recent results, demonstrating that even large institutions can suffer significant fluctuations in profitability.
State control can also influence expectations for support in crisis scenarios, but this factor should not be treated as an automatic guarantee for any investment.
Banco do Brasil remains a central institution for the Brazilian economy, although its recent performance shows the importance of not confusing size with absence of risk.
Attention: monitor the inadequacies in agribusiness, the provisions for losses and the recovery of results.
8. Nubank
Nubank represents one of the main transformations of the Brazilian financial sector in recent decades.
Its digital model allows it to operate with a different structure from that of traditional banks, reducing the dependence of physical agencies and favoring scalability.
The growth of the customer base, the expansion of financial products and the evolution of profitability demonstrate the consolidation of its business model.
Meanwhile, accelerated growth also requires attention to the quality of credit, especially in consumer products.
An efficient application and a lean operating structure are competitive advantages, but do not constitute financial security guarantees.
Nubank stands out for its simplicity, digital experience and products such as boxes, whose characteristics and protections vary according to the modality.
Attention: assess the inadequacy, risk-adjusted profitability and legal nature of the products offered.
9. Inter Bank
Inter Bank has developed a digital financial platform proposal, bringing together bank accounts, investments, international services and other features in a single environment.
Its model seeks to expand the relationship with customers and diversify the sources of revenue.
The digital structure can provide operational efficiency, but the growth of the credit portfolio requires discipline in risk management.
Inter also needs to be analyzed considering its corporate structure and the differences between the consolidated results of the group and the prudential indicators of the brazilian bank.
In the experience of use, it stands out for the variety of features, especially for customers who like to concentrate different financial services in a single application.
Attention: monitor the quality of credit, the evolution of profitability and regulatory indicators of the brazilian institution.
10. C6 Bank
C6 Bank came up with a proposal to offer digital banking services, cards, investments and international solutions.
One of the most relevant factors in its corporate structure is the participation of J.P. Morgan, one of the largest financial groups in the world.
This association is an important element in assessing the institution's ability to access capital and strategic support.
However, it is essential to understand that shareholder participation does not amount to an automatic guarantee of all the bank's obligations.
The C6 also offers business spreads such as point programs, global account and card customization.
Attention: monitor the capital indicators, the consistency of profitability and the evolution of the credit portfolio.
11. PicPay
PicPay built a significant user base from digital payments and gradually expanded its presence in financial services.
The expansion for credit, investment and banking products represents an attempt to diversify revenue and strengthen the relationship with customers.
His opening of capital in Nasdaq in January 2026 marked an important stage in his career, with an initial offer of approximately $434 million.
The operation expands the possibilities of financing and growth, but does not eliminate the risks associated with credit and business expansion.
It is also important to distinguish between reputeal issues related to shareholders and controllers of the institution's effective financial indicators.
These factors can be considered in the governance assessment, but do not replace evidence about liquidity, capital and asset quality.
Attention: monitor the evolution of profitability, regulatory indicators and the ability to sustain growth with risk control.
12. Payment Market
The Pago Market has a business model that is strongly integrated into the Free Market ecosystem.
Its performance began with payments and services for buyers and sellers, but evolved into a wider range of financial solutions.
One of its competitive advantages is the ability to use information on commercial transactions to develop credit products and other services.
However, there is an important distinction: the Pago Market operates through different regulatory entities and modalities, including payment institution activities and financial transactions.
Therefore, it is not appropriate to apply automatically to all your products the same indicators and protection mechanisms used in the evaluation of commercial banks.
The money held in payment account follows different rules from those applicable to bank deposits covered by the GCF.
Attention: identify the institution responsible for each product, the applicable guarantees and the risks associated with the expansion of credit operations.
3. After all, which banks are safer?
This is probably the most important question in the article, but also the one that requires greater care.
There is no single indicator that can determine which institution is the safest in Brazil.
Banks such as Itaú, Banco do Brasil, Caixa, Bradesco and Santander have great systemic relevance, diversified operations and consolidated structures.
Institutions such as Safra and BTG Pactual have business models with their own characteristics, which need to be evaluated considering their respective risks.
Digital banks such as Nubank, Inter and C6 already have different operating structures, which can promote efficiency, but do not dispense with strict capital and credit controls.
PicPay and Mercado Pago, in turn, require additional attention to the differences between their regulated entities and the protection mechanisms of each product.
Therefore, the most appropriate way is not to choose a winner only by the Basel Index.
A consistent comparison should consider capital, liquidity, profitability, default, asset quality, governance and business model characteristics.
It is also necessary to use data from the same period and correctly identify the institution analyzed.
4. Does the FGC protect your money?
The Credit Guarantee Fund, known as FGC, is one of the main protection mechanisms for certain deposits and investments in the Brazilian financial system.
Generally speaking, the ordinary coverage is up to R$ 250 thousand per CPF or CNPJ, per financial institution or associated financial conglomerate.
There is also a global ceiling of R$ 1 million in guarantees paid within a four-year period, according to the fund rules.
Among the products that can count on coverage are current account deposits, savings, CBDs, RDBs and certain letters of credit.
However, not all investments have this protection.
Investment funds, shares, debentures and several other financial products are not covered by the GCF.
In addition, two institutions belonging to the same conglomerate may share the same guarantee limit.
Another important point is that the GCF does not represent immediate availability of the money. In case of intervention or settlement, payment depends on the procedures provided for by the fund.
The resources maintained in payment accounts follow own legal mechanisms of property protection, which should not be confused with the guarantee of the FGC.
Therefore, before investing, it is essential to identify the issuer of the product, its legal nature and the effective protection.
5. Where to store your emergency reserve?
An emergency reserve needs to meet three fundamental criteria: security, liquidity and predictability.
This means that the choice should not be oriented exclusively by the offered profitability.
An investment that pays high interest but presents rescue difficulties or credit risk incompatible with its purpose may not be appropriate for a contingency reserve.
Among the alternatives that deserve consideration are high-liquidity public bonds, such as the Selic Treasury, and conservative banking products with daily liquidity, respecting their risks and rescue conditions.
It can also make sense to distribute the resources among different institutions, especially when values exceed the applicable coverage limits.
However, diversifying does not mean just opening accounts in several applications. It is necessary to check whether the products belong to different clusters and what guarantees they really offer.
For the emergency reserve, the priority should be to be able to access the money when necessary, without depending on favourable market conditions or the sale of risky assets.
Conclusion: Financial security requires more than trust in a brand
When we talk about banks, it is common to associate security with large, well-known and long-standing institutions in the market.
This perception is not completely wrong. Scale, diversification and operational history are relevant factors.
But none of them replaces financial analysis.
The Basel Index shows the adequacy of capital against the risks assumed. The immobilization helps to understand the commitment of part of the capital. Profitability demonstrates the ability to generate results, while liquidity and credit quality help to identify vulnerabilities that are not always visible to the consumer.
It is the combination of these elements that allows a more consistent assessment.
We also need to understand that bank security and investment security are not exactly the same. Risk depends on both the institution and the product you hire and your guarantees.
In the end, the best decision is not necessarily to choose the most famous bank, the most modern application or the institution that offers the highest profitability.
It is to understand where the money is being applied, what risks are involved and what protection mechanisms really exist.
Financial security does not mean eliminating all risks, but knowing them enough to make better decisions.
And that's the purpose of our economic column in TechIssues: to transform complex financial matters into accessible information, helping you better understand the economy and make more conscious decisions.
This article is exclusively informative and educational in nature. It is not an individual recommendation for investment, official risk classification or solvency assessment issued by the regulatory body.