January 14, 2013 / 2:45 PM / in 5 years

Brazil's Bradesco sees downward trend in defaults this year

SAO PAULO, Jan 14 (Reuters) - Banco Bradesco SA, Brazil’s No. 2 private sector bank, is forecasting a decline in loan delinquencies to extend throughout the year, a senior executive told Reuters on Monday.

The bank decided Monday to increase the supply of consumer credit for individuals exempt from preliminary approval by 14 billion reais ($6.9 billion), a jump of almost 20 percent, according to Octávio de Lazari Junior, Bradesco’s senior vice president in charge of lending. The decision followed the assessment that the trend in delinquencies will prevail for the year.

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