Unibanco S.A. was a Brazilian bank which operated from 1924 to 2009, when it was merged into Banco Itaú. The name stood for União de Bancos Brasileiros ("Union of Brazilian Banks").
Foundation
In 1924 João Moreira Salles established the Casa Bancária Moreira Salles (Moreira Salles Banking House) in the city of Poços de Caldas, state of Minas Gerais. His son Walter Moreira Salles was named an acting partner in 1933 at the young age of twenty-one.
Regional mergers
During 1940, Banco Moreira Salles catalyzed its growth by merging with three regional banks, eventually changing its name to União de Bancos Brasileiros (Unibanco).
Acquisition of Banco Nacional
In time its headquarters moved to São Paulo, in the homonymous state, Brazil's largest financial center. Unibanco grew to be the third largest non-government bank in the country, largely due to the 1995 acquisition of Banco Nacional, which went bankrupt alongside other major financial houses during the national banking meltdown of the early years of the