January 30, 2015 / 12:45 PM / 4 years ago

Bradesco prepared to deal with potential Brazil credit events

SAO PAULO, Jan 30 (Reuters) - Banco Bradesco SA’s , Brazil’s second largest private-sector bank, is unlikely to be affected by a potential wave of corporate defaults and restructurings in Brazil thanks to its strict and careful risk assessment policies, executives said on Friday.

While specific credit events could happen more frequently this year, they are unlikely to “significantly impact Bradesco’s asset quality or force the bank to raise provision levels,” Chief Financial Officer Luiz Carlos Angelotti said in a conference call to discuss fourth-quarter earnings.

Asked how Bradesco will deal with Moody’s Investors Service’s decision to lower state-controlled oil producer Petróleo Brasileiro SA’s debt ratings, Angelotti said Bradesco “always carefully analyzes all situations with our clients on a case-by-case basis.” He declined to elaborate.

Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama

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