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SAO PAULO, March 19 (Reuters) - Banco Santander Brasil SA's plan to increase debt and reduce excess capital will eventually help the lender deliver higher levels of profitability, Chief Financial Officer Carlos Galan said on Wednesday.
"This capital optimization plan that we concluded in January ... will help us tackle our bank's biggest Achilles' heel, profitability readings," Galan told investors at a shareholder held in Sao Paulo.
Santander Brasil's return on equity, a gauge of how well the bank spends shareholders' equity, is the lowest among Brazil's four largest listed banks. (Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)