November 11, 2016 / 12:52 PM / in 2 years

Banco do Brasil sees room for further loan repricing next year

SAO PAULO, Nov 11 (Reuters) - Banco do Brasil SA will have ample room to raise or renegotiate the interest it charges on new loans throughout next year, in an indication that the nation’s largest bank by assets is putting profitability on the forefront as economic conditions improve.

In a conference call to discuss third-quarter results, executives led by Chief Financial Officer Jose Mauricio Coelho said lending spreads could remain around current levels in 2017 should commercial banks refrain from stepping up competition for new clients. Loan-loss provisions have already peaked and should improve gradually, the executives said. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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