trending Market Intelligence /marketintelligence/en/news-insights/trending/JIDl_s6xRtuPl1yseY1iDA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Caixa narrows loan growth expectations

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Caixa narrows loan growth expectations

CaixaEconômica Federal now expects its loan portfolio to grow by between7% and 7.5% in 2016, the lower end of its prior range, Bloomberg News reported,citing CFO Marcio Percival.

The company had previously set a loan growth range of 7% to11%; in 2015, itsexpanded credit portfolio grew by 11.9%.

Percival said that delinquency rates are expected to hitbetween 3.5% and 3.85%.

The bank posted first-quarter net income of 837.8 millionBrazilian reais, down 45.9% compared to a year ago. Percival said that thedecline in net income was due to a credit provision of about 700 million reais relatedto a company in the oil and gas industry, but refused to mention the name.The CFO reportedly said that Caixa has provisions for the entire amount owed bythe company.

As of May 9, US$1 wasequivalent to 3.55 Brazilian reais.