December 14, 2018 / 4:29 PM / a year ago

Bradesco rules out delisting card processor Cielo

SAO PAULO, Dec 14 (Reuters) - Bradesco SA, Brazil’s second largest private bank, has no plans to delist card processor Cielo SA, the bank’s Chief Executive Octavio de Lazari told reporters on Friday.

Lazari said Cielo remains a ‘good investment’, although he expects profit margins in the company to fall as competition among card processors in the country increases. (Reporting by Carolina Mandl Writing by Marcelo Teixeira Editing by Chizu Nomiyama)

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