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Itaú says loan book strategy key to offsetting Brazil slowdown
April 30, 2014 / 1:40 PM / 4 years ago

Itaú says loan book strategy key to offsetting Brazil slowdown

SAO PAULO, April 30 (Reuters) - Itaú Unibanco Holding SA’s strategy to increase loan disbursements on the least-risky segments is necessary to help Brazil’s largest bank by market value weather the impact of a slowing economy, a senior executive said on Wednesday.

The Brazilian economy will expand at a slow pace this and next year, said Alfredo Egydio Setubal, a senior vice president and head of investors relations, at an earnings conference call. Itaú’s ongoing plan to gain control of Chile’s CorpBanca SA goes in the same direction of helping diversify risk and make the bank less dependent on Brazil, Setubal said. (Reporting by Guillermo Parra-Bernal and Aluísio Alves; Editing by Lisa Von Ahn)

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