Banco Itau SA, Brazil's second-largest private bank, announced Monday that it has formed a partnership to offer credit cards, financing, and other financial services to customers of Marisa SA, one of the country's largest department store chains.

Itau said it plans to invest up to $56.87 million in the partnership, which it said will last for the next 10 years. Itau and Marisa will divide the profits from the partnership equally.

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