Brazil's Bradesco sees loan book growing 1 pct-5 pct this year
SAO PAULO Jan 28 (Reuters) - Banco Bradesco SA , Brazil's second-largest private-sector bank, announced on Thursday the following operating estimates for this year: 1) Bradesco expects to grow lending between 1 percent and 5 percent this year, compared with an expansion of 4.2 percent in 2015. 2) Bradesco expects to grow disbursements of corporate loans between 0 percent and 4 percent, and consumer credit between 4 percent and 8 percent this year. 3) The bank forecasts interest income, or revenue from lending-related transactions, to expand between 6 percent and 10 percent this year. 4) Bradesco forecasts fee income, or revenue from fees, financial services and commissions, to expand between 7 percent and 11 percent this year. 5) Bradesco forecasts non-interest expenses, or sales, general and administrative expenditures, to rise between 4.5 percent and 8.5 percent this year. Last year, they rose 7.7 percent, or below annual inflation. 6) Insurance premium underwriting at Bradesco, which is also Brazil's largest insurance group, is expected to grow between 8 percent and 12 percent this year.
7) Bradesco also released a target for total loan-loss provision expenses, which are expected to come in at between 16.5 billion reais and 18.5 billion reais ($4.02 billion and $4.51 billion) this year. Last year, so-called LLP expenses ended the year up 20 percent at 15.174 billion reais.
The estimate for LLPs include loan recoveries, the bank said in a statement.
($1 = 4.1006 Brazilian reais) (Reporting by Guillermo Parra-Bernal)
© Thomson Reuters 2017 All rights reserved.