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Brazil's Itaú may further cut provisions as economy picks up -CEO
October 31, 2017 / 1:21 PM / 2 months ago

Brazil's Itaú may further cut provisions as economy picks up -CEO

SAO PAULO, Oct 31 (Reuters) - Brazilian lender Itaú Unibanco Holding SA may further cut loan-loss provisions as the economy recovers, potentially offseting the effect of lower interest rates on its loan book, the bank’s chief executive officer said on Tuesday.

Itaú’s coverage ratio, a gauge of its ability to absorb potential loan-losses, rose to the highest level in at least two years in the third quarter. (Reporting by Bruno Federowski; Editing by Chizu Nomiyama)

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