UPDATE 1-Bradesco sees no new provision, faster loan growth

* Bradesco sees no need for additional bad debt provisions

* Loan growth seen quickening to 20 pct-25 pct in 2010

* CEO sees no acquisition targets on the radar (Adds Bradesco comments, acquisition outlook)

SAO PAULO, Aug 4 (Reuters) - Banco Bradesco (BBDC4.SA) (BBD.N), Brazil's second-largest private-sector bank, plans no new provisions for bad debt after setting more aside in recent quarters to face rising defaults, a company executive said on Tuesday.

Bradesco raised bad debt provisions a sharp 60 percent in the second quarter from a year earlier to 13.87 billion reais, which has been enough to increase its coverage ratios, Domingos de Abreu, the bank's executive vice president, said.

"We have practically rebuilt the coverage rations to historic levels and don't see a need to constitute new provisions," Abreu said on a conference call with analysts and investors.

Bradesco's coverage ratio, or the total amount of provisions as a percentage of loans that have been overdue by more than 90 days, jumped to 169.1 percent in the second quarter from 152.4 percent in the first three months of the year.

Like most banks in Brazil, Bradesco has increased bad debt provisions because of rising delinquency rates on personal loans and other types of credit.

Default rates on Bradesco's total loan portfolio rose to 4.6 percent, from 3.4 percent a year earlier. Defaults should rise to about 4.9 percent in the third quarter before dropping to an expected 4.7 percent at the end of the year as an expansion in Brazil's economy and job creation helps workers pay down their debt, the bank said on Monday.

Bradesco's Chief Executive Luiz Carlos Trabuco Cappi said he would not be surprised if the bank's credit portfolio grew between 20 percent and 25 percent in 2010 as expansion in Brazil's economy quickens next year. The bank cut on Monday its estimates for credit growth in 2009 to between 8 percent and 12 percent.

"We don't have guidance for 2010, but we try and work with multiples of GDP growth," Trabuco said. "We figure if GDP grows about 5 percent, to expect (credit) expansion around 20 percent to 25 percent wouldn't be any surprise."

The bank is not currently considering any acquisitions, Trabuco said, focusing on organic growth instead. (Reporting by Elzio Barreto and Aluisio Alves; Editing by Maureen Bavdek)