EBX “No Problem” for Banks: Setubal

EBX “No Problem” for Banks: Setubal

Brazil Bonds

The financial crisis at Brazil’s EBX Group will not have a major impact on the country’s banking sector even in the “worst case” of a default, Itau-Unibano CEO Roberto Setubal tells LatinFinance. “Given the level of exposure of banks in Brazil to EBX group, it is not really a problem at all in terms of systemic risk. In the worst case scenario [of a default] we would not change our guidance in terms of provisions or losses,” Setubal says. The executive does not elaborate on his bank’s exposure t

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