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In a bid to boost profitability, Bradesco revamps wholesale bank

Banco Bradesco SA has restructured its wholesale banking division by expanding its segmentation by customer business volume, Valor Econômico reported.

The aim is to improve profitability of operations with medium-sized and large companies, and "to better manage credit risk and improve the quality of service," Marcelo Noronha, the bank's vice president for the wholesale area, told the newspaper.

The company will break its corporate segment into three groups: one serving companies with annual revenues of up to 500 million reais, another for those with between 500 million reais and 4 billion reais in revenues, and a third for those with more than 4 billion reais in revenues.

According to the report, Bradesco's plan hopes to capture corporate growth it sees emerging from improving economic conditions in Brazil.

As of March 8, US$1 was equivalent to 3.86 Brazilian reais.