Surge in Bradesco short-term defaults was seasonal, official says
SAO PAULO, April 29 (Reuters) - A 0.5 percentage point jump in short-term loan delinquencies at Banco Bradesco SA in the first quarter was strictly due to seasonal factors, officials said on a conference call on Wednesday.
The increase, which drove the default ratio between 15 days and 90 days to 4.1 percent from 3.6 percent in the fourth quarter, is expected to be diluted over the coming quarters, said Carlos Firetti, Bradesco's head of investor relations.
Bradesco is Brazil's No. 2 private-sector lender by assets. (Reporting by Guillermo Parra-Bernal; Editing by Chris Reese)
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