Earnings at Brazil 's largest banks are projected to fall up to 17 % if companies continue to renegotiate loans , with a 20 % increase in bankruptcy filings this year alone . banks and investment banks are in talks with companies for refinancing a projected $ 500 reais in loans while Brazil 's bankruptcy protection legislation makes companies such as CSN and Oi SA unable to repay following debt repayment issues .
Earnings at Brazil's largest banks are projected to fall up to 17% if companies continue to renegotiate loans, with a 150% increase in bankruptcy filings this year alone. Bradesco and Santander Brasil are in talks with companies concerning refinancing a combined $1.2billion reais in loans while Brazil's bankruptcy protection legislation makes companies such as CSN and Oi SA unable to recover following debt repayment issues.