April 27, 2016 / 2:12 PM / 2 years ago

Santander Brasil sees limited deterioration in loan book quality

SAO PAULO, April 27 (Reuters) - Loan book quality at Banco Santander Brasil SA could show limited deterioration in coming months thanks to strict credit risk assessment policies that are speeding up loan renegotiations and stifling potential consumer and corporate defaults, Chief Financial Officer Ángel Santodomingo said.

Early delinquencies among consumer borrowers are likely to rise faster than those for corporate clients at Brazil’s largest foreign-owned lender, because the former’s ability to stay current is more sensitive to the recession than for companies, Santodomingo told analysts at a conference call to discuss first-quarter results.

Santander Brasil beat first-quarter profit estimates on Wednesday, as steps to renegotiate more problematic credits helped stifle defaults and opened room for lower loan-loss provisions.

Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama

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