Banco Bradesco SA, Latin America’s largest bank by market value, may raise its forecast for 2014 credit growth this year after lending expanded at a faster pace in March.
Conditions could allow Bradesco “to expand its loan book this year faster than we expected in December,” Chief Executive Officer Luiz Carlos Trabuco Cappi, 62, told reporters in Sao Paulo today. “Credit expansion started slowly in January and February, but it showed a positive reaction in March.”
Bradesco, which reduced its loan-growth forecast in each of the past two years because of slower economic growth, said in January it expected lending to expand 10 percent to 14 percent this year. Cappi said a change to the Osasco-based company’s 2014 forecast might come after the second quarter.
Delinquency rates and the amount of money set aside to cover soured loans are expected to be little changed this year, he said.
Bradesco rose 3.5 percent to 32.85 reais in Sao Paulo at 4:03 p.m., compared with a 1.6 percent gain for Itau Unibanco Holding SA.