SAO PAULO Jan 29 Banco Bradesco SA, Brazil's second largest private-sector bank, has no current plans to grow through mergers and acquisitions, Chief Executive Luiz Carlos Trabuco said on Tuesday.
Asked by an analyst whether the bank considered mergers and acquisitions as a tool to expand the bank's operations, Trabuco said, "this is the moment to intensify our focus on organic growth." Trabuco spoke on a conference call a day after the company reported quarterly earnings.
Local media have repeatedly linked Bradesco to a potential purchase of part or all assets of Banco Santander Brasil SA . Both banks have denied such reports several times.