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SAO PAULO, Nov 12 (Reuters) - State-controlled Banco do Brasil SA will set aside more money to cover defaulted loans if necessary, in order to prevent a further erosion in credit quality and stem soaring defaults, Chief Financial Officer José Mauricio Coelho said on Thursday.
Profit at Banco do Brasil fell to the lowest level in almost two years in the third quarter as a surge in loan-loss provisions further dampened the outlook for the nation's largest lender by assets.
Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal