Banco Santander Brasil sees default rate declining

SAO PAULO Thu Oct 25, 2012 8:58am EDT

SAO PAULO Oct 25 (Reuters) - Banco Santander Brasil sees loan delinquencies at their peak and expects default rates to "normalize" in coming quarters, Chief Executive Marcial Portela Alvarez told reporters on Thursday.

The Brazilian affiliate of Spain's Banco Santander posted a lower quarterly profit on Thursday as rising delinquencies forced higher bad loan provisions.