Itaú's exposure to 10 largest Brazil corporate borrowers falls
SAO PAULO May 3 (Reuters) - Itaú Unibanco Holding SA cut exposure to large corporate borrowers in the first quarter, as Brazil's largest bank by market value sought to mitigate the impact of the country's harsh recession and a sweeping corruption scandal on loan book quality.
São Paulo-based Itaú said in a Tuesday securities filing that outstanding loans to its 10 largest corporate borrowers fell to 33.084 billion reais ($9.45 billion) at the end of last quarter, compared with 35.526 billion reais a year earlier. That amount is equivalent to 6.4 percent of Itaú's loan book, compared with 6.5 percent a year earlier.
($1 = 3.5004 Brazilian reais) (Reporting by Guillermo Parra-Bernal Editing by W Simon)
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