This post was originally published on this site
Brazil’s largest lender said its loan book is likely to grow between 15.5% and 17.5% this year, above a previous estimate of 9%-12%.
Its 2022 cost of credit, which is mainly composed of cash set aside for loans likely to default, is now seen in the range of 28-31 billion reais, up from the previous forecast of between 25 and 29 billion reais.
The bank said its second-quarter recurring net profit rose 17.4% from the previous year to 7.67 billion reais ($1.50 billion), beating analyst expectations of 7.48 billion reais, compiled by Refinitiv.
($1 = 5.1110 reais)
