October 23, 2013 / 8:02 PM / 4 years ago

Banco do Brasil VP says bank not slowing loan disbursements

RIO DE JANEIRO, Oct 23 (Reuters) - Banco do Brasil is not pulling back on loan disbursements despite a rapid slowdown in lending by some banks in Brazil, said a senior executive at the state-controlled lender.

Paulo Roberto Caffarelli, Banco do Brasil’s senior vice president for wholesale, private and international banking, told analysts in São Paulo that the bank predicts loan growth of between 17 and 21 percent in 2013.

“Recent reports that public banks would be slowing their offer of credit do not apply to Banco do Brasil,” Caffarelli said.

His comments come at a time when private sector banks have slowed lending because of growing default rates and when the government is under increasing pressure to curb public sector credit because of its outsized role in Latin America’s biggest economy.

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