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Non-Tech : The Brazil Board

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To: THE ANT who wrote (1878)	5/28/2019 9:14:23 AM
From: elmatador	of 2508

An Economy on the Rocks? No Sweat for Brazil's Bust-Proof BanksBy Mario Sergio Lima May 26, 2019, 3:00 PM GMT+3 Updated on May 27, 2019, 2:46 PM GMT+3 Banks profiting from spreads, service fees and lower costs Financial results have been positive despite worsening economy Brazilian banks are showing their prowess in making money under any circumstance, with profits jumping even as Latin America’s largest economy fails to recover and unemployment remains stuck in the double digits. The country’s four biggest publicly-traded banks - Itau Unibanco Holding SA, Banco Santander Brasil SA, Banco do Brasil SA and Banco Bradesco SA - completed their best quarter since 2015, according to data analysis firm Economatica. Their profits increased 17% yearly between January and March, a period marked by political turbulence, fizzling confidence and plunging growth expectations. bloomberg.com

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