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Bradesco sees no consolidation of Brazil banks

Mon Oct 27, 2008 10:06am EDT

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SAO PAULO, Oct 27 (Reuters) - The global financial and credit crisis is unlikely to lead to consolidation of Brazil's banking sector, the chief executive of Banco Bradesco (BBDC4.SA) said on Monday.

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Bradesco (BBD.N), Brazil's largest private-sector bank, is one of a handful of large banks in the South American country that are seeking to acquire loan portfolios from smaller firms in distress.

Chief Executive Marcio Cypriano also said that Bradesco expects its loan portfolio to expand 20 percent in 2009 despite the global credit crunch. (Reporting by Aluisio Alves, Writing by Todd Benson, editing by Gerald E. McCormick)

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