Brazil's Bradesco cuts loan book growth, ups revenue outlook
SAO PAULO Oct 30 (Reuters) - Banco Bradesco SA , Brazil's second-biggest non-government bank, announced on Thursday the following operating estimates for this year:
1) The bank expects growth in its loan book between 7 percent and 11 percent this year, compared with a prior guidance of 10 percent and 14 percent issued in February. Bradesco's loan book rose 7.7 percent in the 12 months through September.
2) Bradesco expects to grow disbursements of corporate loans between 6 percent and 10 percent, and consumer credit between 8 percent and 12 percent this year. That compares with previous guidance of 9 percent to 13 percent, and 11 percent to 15 percent for the segments, respectively.
3) Net interest income, or revenue from lending-related transactions, is seen growing between 9 percent and 12 percent this year, compared with prior guidance of 6 percent to 10 percent.
4) Bradesco forecasts fee income, or revenue from fees, financial services and commissions, to expand between 11 percent and 14 percent this year, up from a previous range of 9 percent to 13 percent.
5) Bradesco kept the estimate for growth in sales, general and administrative expenses unchanged at between 3 percent and 6 percent this year.
6) Insurance premium underwriting at Bradesco, which is also Brazil's largest insurance group, should grow between 9 percent and 12 percent this year, unchanged from February's guidance. (Reporting by Guillermo Parra-Bernal)
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