The purpose of this study was to identify the association between different strategic groups of the Brazilian banking sector, according to Porter s typology (1980), and their economic-financial performance, using, to measure that, as far constructs produced with financial-market data as financial-accounting data. The intent of the research effort was to observe the impact of the choice between these indicators in the evaluation of strategic choices of these groups in their performance. It has been a motive for the investigation the fact that Brazilian banking industry has been undergoing a consolidation process whose new competitive dynamic is not satisfactorily understood and also that studies on the performance drivers of this sector had significantly increased its practical relevance in view of recent international financial crisis of 2008. To accomplish this research two research methods were used: the first quantitative method seeks to identify strategic groups according to the characteristics that discriminate in each of the strategic types and evaluates the effects of strategic choices on performance to, in sequence, measure the effects of the use of financial-market and financial-accounting data; and the second one, a qualitative method, seeks evidences that might deepen understandings of the findings above. The results indicate that the strategic group that accommodates the big retail banks occupies a position of significant competitive advantage in relation to the other groups of this industry. This advantage is reflected in a superior performance when measured by financial-accounting data, but not by variables that evaluate the increase of its market value.