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Brazil's Pine details loan book exposure to troubled sectors
February 2, 2015 / 12:16 PM / 3 years ago

Brazil's Pine details loan book exposure to troubled sectors

SAO PAULO, Feb 2 (Reuters) - Banco Pine SA, the mid-sized Brazilian lender whose shares tumbled 42 percent last month, detailed on Monday its exposure to troubled sectors, including sugar and ethanol, as well as companies linked to a corruption scandal at state-controlled oil producer Petrobras .

In a securities filing, Pine said the equivalent of 14 percent of its loan book is concentrated in the sugar and ethanol industries, while about 12 percent to commercial and residential real estate development. Loans at those sectors are backed by robust guarantees, the filing added.

Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe

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