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Banco do Brasil seeks return above 10 percent next year
December 6, 2017 / 8:29 PM / 6 days ago

Banco do Brasil seeks return above 10 percent next year

SAO PAULO, Dec 6 (Reuters) - Banco do Brasil SA expects its return over equity to be higher than 10 percent next year, Chief Executive Officer Paulo Caffarelli told investors on Wednesday.

“We expect to have profitability levels closer to our private sector rivals in 2019,” Caffarelli said.

Caffarelli expects Banco do Brasil’s capital to reach 11 to 12 percent of weighed assets on the medium term. The CEO said Banco do Brasil plans a share offering of a bank it owns in Argentina, Banco Patagonia SA. (Reporting by Aluisio Alves; Writing by Tatiana Bautzer; Editing by Sandra Maler)

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