Brazil's Bradesco sees Q2 still hit by loan-loss provisions, improvement in H2
In this article:
SAO PAULO, May 5 (Reuters) - Brazilian lender Banco Bradesco SA expects loan-loss provisions to still pressure results in the second quarter but sees an improvement in the second half of 2023, which would allow it to meet its year-end forecasts, Chief Executive Octavio de Lazari Junior said on Friday.
Bradesco on Thursday reported a 37.3% dive in its first-quarter net income compared to a year earlier, but landed above analysts' expectations. Provisions for bad loans nearly doubled to 9.517 billion reais ($1.91 billion). ($1 = 4.9956 reais) (Reporting by Alberto Alerigi Jr.; Editing by Steven Grattan)
