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. The Brazilian government has been trying for years to get the country's biggest banks, which have more than $45 billion of assets, under control.
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.