November 1, 2013
There is cause for optimism for Brazil’s banking sector — despite the challenges it faces on several fronts. A slump in economic growth, a decline in average interest rates and a slowdown in a decade-long cycle of credit expansion have together meant higher credit costs and narrower margins.
Next year’s presidential elections also spell uncertainty, while there is concern over disruption — following protests that erupted across the country in 2013 — when the country hosts the World Cup next summer.
But optimism for the banking sector is based on what many analysts see as prudent planning and a conservative approach to doing business — operating principles that have largely paid off for t
A conservative banking strategy that has nevertheless sought out growth opportunities is paying off for Itaú, Latin America’s largest bank