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2 months ago
Latest graft scandal poses no risk for Brazil banks, group says
June 6, 2017 / 4:27 PM / 2 months ago

Latest graft scandal poses no risk for Brazil banks, group says

SAO PAULO, June 6 (Reuters) - A recent corruption scandal involving Brazilian President Michel Temer and which has hit the investment holdings of a billionaire family is unlikely to pose any serious risk for the nation's banking system, the president of the country's biggest bank lobbying group said on Tuesday.

According to Murilo Portugal, president of industry group Febraban, the scandal involving the Batista family's J&F Investimentos SA holding company should not have any aftershocks for lenders. Members of the Batista family last month accused Temer of working to obstruct a major corruption probe, sending Brazil's currency, bonds and stocks into a tailspin. (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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