Even as it makes cooperative overtures toward banks, American Express Co. is forging ahead in its bid to take a share of the Latin American card market away from them.

American Express announced an agreement last week to launch the Excel American Express card in Brazil. Issued by Banco Excel Economico, a year- old bank that ranks 17th in the country in assets, the card allows customers to do what they do with bank credit cards-revolve unpaid balances.

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