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Santander Brasil sees expense growth around inflation this year
July 12, 2017 / 8:16 PM / 20 days ago

Santander Brasil sees expense growth around inflation this year

SAO PAULO, July 31 (Reuters) - Non-interest expense growth at Banco Santander Brasil SA will remain around the level of annual inflation this year, underscoring efforts by Brazil's No. 3 private-sector lender to bolster profitability and cut the gap with larger rivals.

On a Monday call with investors to discuss second-quarter results, Chief Financial Officer Angel Santodomingo said return on equity should remain supported by strong operational performance, despite ongoing economic headwinds such as a recession and still-high urban unemployment. (Reporting by Guillermo Parra-Bernal; Editing by Bernadette Baum)

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