June 20, 2018 / 8:11 PM / 6 months ago

Fitch says Brazil's top two private lenders may face pressure on profitability

SAO PAULO, June 20 (Reuters) - Profit levels at Brazil’s top two private lenders may be under pressure in the coming years as economic recovery has been sluggish, a director at Fitch Rating said on Wednesday.

Fitch Brazil Director Esin Celasun told journalists in a banking conference that she does not expect sharp reductions in returns on equity of Itaú Unibanco Holding SA and Banco Bradesco SA

To compensate for low loan growth, Brazilian banks may need to increase its efficiency, Celasun added. (Reporting by Aluisio Alves; Writing Carolina Mandl; Editing by Sandra Maler)

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