August 14, 2017 / 7:03 PM / a year ago

Brazil's BNDES sees provisions at 'comfortable' level

SAO PAULO, Aug 14 (Reuters) - Loan-loss provisions at state development bank BNDES are unlikely to increase significantly in coming months unless an unexpected case arises, a sign Brazil’s No. 1 source of long-term corporate lending is comfortable with current levels of capital buffer.

Provisions at Rio de Janeiro-based BNDES were for years below the banking system’s average, which forced management to raise them as corporate loan defaults soared over the past year, comptroller Vania Borgerth said a conference call on Monday. (Reporting by Guillermo Parra-Bernal; editing by Diane Craft)

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