Banco do Brasil says to stay competitive through stable spreads

SAO PAULO Thu Aug 14, 2014 10:11am EDT

SAO PAULO Aug 14 (Reuters) - State-run Banco do Brasil SA is likely to maintain the cost of borrowing stable in coming quarters, remaining competitive due to its fundraising strategy, Chief Financial Officer Ivan Monteiro said on Thursday.

Defaults and spreads, or the difference between the interest rate at which a bank lends and the cost of its funding, will remain around current levels, Monteiro said at an event to discuss second-quarter results. (Reporting by Guillermo Parra-Bernal and Aluisio Alves)

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