Brazilian state-controlled lender Banco do Brasil SA sees its profits likely gro...
) sees its profits likely growing 10% in 2020 from this year, its Chief Financial Officer Carlos Hamilton Araujo said on Thursday in a meeting with analysts.
Banco do Brasil’s 2019 profit should reach up to 18.5 billion reais, according to targets set earlier this year. Still, its total loan book is likely to present sluggish growth as corporate loans should decline for another year, as Banco do Brasil sees large companies raising money in capital markets.
Novaes said the central bank’s capping of interest rates on overdraft credit at 8% annually will have a negative impact on the bank’s profit, but it should not be “that big.”
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