Banco Bradesco SA is the second largest private bank in Brazil, with about 15% of deposits, and the largest insurance provider in Brazil, with about 20%-25% market share. The bank is majority-controlled by the Bradesco Foundation-- a private non-profit institution focused on education. The bank provides about 70% of profits, while the insurance segment contributes the remaining 30%. The bank is also a large asset manager with a high single-digit market share of around 10 percent. In 2016, Bradesco acquired HSBC's Brazilian operations.