May 19, 2020 / 3:07 PM / 11 days ago

Brazil's Itau CEO says banks not able to meet clients' demand for loans

SAO PAULO, May 19 (Reuters) - Brazilian banks are unable to meet clients’ demands for loans amid the coronavirus pandemic, as banking liquidity has fallen and default risk has risen, Itau Unibanco Holding SA’s chief executive Candido Bracher said on Tuesday.

Speaking on a live webcast hosted by Valor Economico, Bracher said loan demand is likely to fall soon due to the economic crisis, and also said that banks and the government are discussing rules mortgage refinancing as a way of raising cash backed by strong collateral. (Reporting by Carolina Mandl)

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