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Banks to emerge unscathed from Americanas saga

Banks to emerge unscathed from Americanas saga

January 30, 2023 | Thierry Ogier
Moody's says lenders have "excess reserves" and enough flexibility to soften the blow

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The impact from the demise of Brazilian retailer Americanas "will not be relevant to the point of hurting the financial profile of banks," Daniel Girola, vice president and senior analyst at Moody's in São Paulo, told LatinFinance on Friday. Brazilian banks have "considerable" exposure to Americanas, which will start to become evident in the coming round of quarterly results, "but they have enough flexibility to deal with the situation," Girola said. Americanas entered judicial recovery earlier

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