Edition:
United States

Carolina Mandl

UPDATE 1-Itau Unibanco's CEO sees loan delinquency at record levels

10:01am EDT

SAO PAULO, Aug 4 Itau Unibanco Holding SA's Chief Executive Candido Bracher said on Tuesday that next year he sees Brazil's 90-day default ratio reaching higher levels than in previous crisis.

Exclusive: Bradesco plans long-term remote work, eyes 5-7% in cost savings

Jul 31 2020

SAO PAULO Brazilian lender Banco Bradesco SA plans to have employees work from home an average of one week per month permanently in order to save on rent and sell some real estate, Chief Executive Octavio de Lazari Junior said in an interview.

UPDATE 2-Bradesco bulks up provisions as worst may not be over, says CEO

Jul 30 2020

SAO PAULO, July 30 Brazil's Banco Bradesco SA set aside more than 3.8 billion reais ($732.8 million) for potential COVID-19-related loan losses and is tightening a grip on costs, as its chief executive says the economic outlook is still ambiguous.

Shares in Brazil's AES Tiete slump as BNDES reaches deals with AES Corp

Jul 28 2020

SAO PAULO Shares in the Brazilian power company AES Tiete Energia SA fell 7.7% after development bank BNDES agreed to sell part of its stake to the firm's controlling shareholder AES Corp .

Brazil's BNDES receives offer from AES Corp for Aes Tietê stake: sources

Jul 27 2020

RIO DE JANEIRO/SAO PAULO Brazil's BNDES Participacoes [BNDESP.UL], a holding company for Brazilian state bank BNDES, has received a rival offer from AES Corp for its stake in AES Tiete Energia SA , according to three sources.

LATAM Airlines creditors oppose bankruptcy loan proposal

Jul 24 2020

SAO PAULO A $2.45 billion loan proposal for bankrupt LATAM Airlines by Oaktree Capital Management LP and the airline's shareholders has run into opposition from creditors, who say the debt package is too expensive.

Digital Colony's Highline do Brasil submits top bid for Oi's mobile assets

Jul 22 2020

SAO PAULO Highline do Brasil, a portfolio company of U.S. private equity firm Digital Colony, has presented the best offer for the mobile assets of Brazilian telecom Oi SA and the two parties are entering exclusive negotiations, Oi said on Wednesday.

Private equity firm Digital Colony bids for Oi's mobile assets -sources

Jul 22 2020

SAO PAULO, July 22 Digital Colony, a private equity firm backed by U.S. real estate investor Thomas Barrack and Digital Bridge Holdings, has delivered a bid for the mobile unit of bankrupt Brazilian carrier Oi SA, two sources familiar with the matter said.

UPDATE 1-Santander Brasil launches $964 mln credit line for sanitation

Jul 21 2020

SAO PAULO, July 21 Banco Santander Brasil SA said on Tuesday it has launched a 5 billion reais ($963.58 million) credit line for new investments in the water and sewage sectors.

Brazil's Bolsonaro says coronavirus restrictions kill economy

Jul 19 2020

SAO PAULO Brazilian President Jair Bolsonaro said on Saturday that lockdown measures used to curb the spread of the novel coronavirus "kill" and have "suffocated" the country's economy.

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