Brazil's Bradesco sees defaults stable or slightly down in 2014
SAO PAULO Jan 30 (Reuters) - Loan defaults at Banco Bradesco SA , Brazil's No. 2 private-sector lender, should remain stable or fall slightly this year, Chief Financial Officer Luiz Carlos Angelotti said on Thursday.
Bradesco beat fourth-quarter earnings estimates on the back of a prudent stance on credit, interest rates hikes in the second half of last year and efforts to limit loan-loss provisions. Recurring net income, or profit excluding one-time items, came to 3.2 billion reais ($1.3 billion), up 9.6 percent on a year-on-year basis, a filing said.
A Thomson Reuters poll of eight analysts predicted recurring profit of 3.18 billion reais.