Banco do Brasil Facing Record Agribusiness Default Levels, CEO Says
Banco do Brasil is facing the highest default level ever recorded in its agribusiness loan portfolio, CEO Tarciana Medeiros said on Friday, adding the deterioration had not been predicted "even in the most pessimistic forecasts." The state-run lender on Thursday reported weaker-than-expected second-quarter results and announced a sharp cut to its full-year outlook, following an already challenging first quarter amid high delinquency in the key agribusiness segment.
Most of the defaults stem from soybean, corn and cattle producers in Brazil's center-west...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.