Santander Brasil loan defaults show signs of improving - CFO

SAO PAULO Wed Feb 27, 2013 2:30pm EST

SAO PAULO Feb 27 (Reuters) - Santander Brasil's Chief Financial Officer Carlos Galán said on Wednesday that the bank's loan default rates, especially in the consumer sector, were showing early signs of improvement and should decline through 2013.

The executive said that the bank's local shares had not performed as well as expected but added that Brazilian banking shares were narrowing their discount relative to their regional peers.