Brazil's Itaú sees slower loan book growth this quarter
SAO PAULO Nov 4 (Reuters) - Itaú Unibanco Holding SA, Brazil's largest bank by market value, expects to increase its loan book growth at a slower pace this quarter on an annual basis because of a base effect, a senior executive said on Tuesday.
While the 90-day default ratio could improve further this quarter, the increase seen in loan-loss provisions between July and September followed specific actions in the wholesale credit segment, Marcelo Kopel, senior vice president for risk and compliance, said in a conference call to discuss third-quarter earnings.
Itaú posted record profit in the third quarter on Tuesday, beating estimates by a large margin after interest and fee income jumped and loan disbursements surprised on the upside. (Reporting by Guillermo Parra-Bernal)
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