Santander Brasil in riskier position among local banks, analysts say [Reuters]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
US:NYSE Investor Relations:
bradescori.com.br/sitebradescori/default-en.aspx
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Source: Reuters
Santander Brasil in riskier position among local banks, analysts say SAO PAULO, April 15 (Reuters) - Banco Santander Brasil SA , which grew its loan book aggressively in the last five years, is now likely to be among the Brazilian banks hardest hit by the coronavirus pandemic, analysts say. Seeking to turbocharge growth at its retail arm in recent years, Santander Brasil sometimes loaned to borrowers other mainstream banks shunned. Now, as Brazilian economy turns down, the bank may face higher delinquency rates. Consumer loans accounted for 61% of the bank’s loan book as of the end of December, up 17 percentage points from 2015, according to Goldman Sachs’ calculations. “Its loan growth and higher exposure to consumers put it in a relatively riskier position,” analysts at Goldman Sachs said in a note to clients. Santander Brasil shares are down 43% so far this year, compared with a 37% drop at Banco Bradesco SA and a 35% decline at Itau Unibanco Holding SA. The crisis stemming from th
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