Brazil’s top four listed lenders are giving months-long extensions for consumers and companies to repay 235 billion reais (US$ 43.98 billion) in outstanding loans, a move to give financially squeezed borrowers a breathing room.
Itaú Unibanco Holding SA’s Chief Executive Candido Bracher said on Tuesday that next year he sees Brazil’s 90-day default ratio reaching higher levels than in a previous crisis.
Political instability in Argentina and Chile is taking a toll on Itaú Unibanco Holding SA’s businesses beyond its home market of Brazil, Chief Executive Candido Bracher said on Tuesday.
JPMorgan Chase & Co and Barclays became the latest financial institutions to lower their estimates for Brazil’s economic growth this year, on the back of weak activity data and increased political uncertainty.