Prudent but Profitable

Prudent but Profitable

Bonds Structured Finance Brazil Corporate & Sovereign Strategy

by Ben Miller It’s always been a close race between the top three banks in Brazil. But Bradesco has won particularly high points at a time when the country’s banks are contending with government macro-prudential measures, inflation worries, a potential credit bubble and now a slowdown in economic growth. Despite the somewhat uncertain outlook, the Brazilian banking giant has been able to maintain strong profitability ratios, a diversified portfolio base and healthy reserve cushions. “Banks in Brazil and Bradesco in particular go into the slowdown with comfortable levels of loan loss reserves, are well-capitalized and with margins capable of absorbing big losses

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