Brazil Itau Unibanco sees no risk of credit bubble. bank very cautious. In general, I don't see any signs of a credit bubble, in any modality of credit, at all," Chief Executive Roberto Setubal said at a news conference.
Brazil Itau Unibanco sees no risk of credit bubble
SAO PAULO | Tue Feb 22, 2011 1:38pm EST
SAO PAULO Feb 22 (Reuters) - Brazil does not face any risk of credit-bubble formation, the head of the country's largest non-government bank, Itau Unibanco, said on Tuesday.
"I don't see anything getting out of control. I see the central bank very cautious. In general, I don't see any signs of a credit bubble, in any modality of credit, at all," Chief Executive Roberto Setubal said at a news conference.
Itau Unibanco (ITUB4.SA) said earlier in the day that profit climbed 21 percent in the fourth quarter from a year earlier as management slashed provisions for bad loans following a decline in defaults. ($1=1.665 reais) (Reporting by Guillermo Parra-Bernal; Writing by Inae Riveras; Editing by Gerald E. McCormick) |
