Earnings at Bradesco'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. Brazil and Santander Brasil are in talks with companies concerning refinancing a combined $1.2billion reais in loans while Bradesco's bankruptcy protection legislation makes companies such as CSN and Oi SA unable to recover 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.