Société Générale has become the latest investment bank to access to Latin America's growing financial services industry, after it bought Brazilian consumer credit provider Banco Cacique for R$850m (€310m).

The French investment bank's deal for Banco Cacique, which serves 600,000 customers and has a network of 150 branches, comes less than nine months after European rival UBS paid $2.5bn (€2bn) for Brazil's Banco Pactual in what it called a "cornerstone investment".