Bradesco says SME segment to see strongest growth this year

- Thursday, October 27, 2011

Bradesco says SME segment to see strongest growth this year

Brazil's third largest bank, Bradesco (NYSE: BBD), expects SMEs to be its fastest growing loan segment this year, top management told a webcast on third quarter results.

For the full year, Bradesco forecasts that its SME lending will advance 20-24%, while it expects growth of 11-15% in loans to large corporations.

The bank sees its lending to individuals climbing 13-17% this year.

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Overall, management said it expects Bradesco's loan book to expand 15-19% for the full year.

Bradesco saw recurring net income rise 13.7% year-on-year in 3Q11, to 2.86bn reais (US$1.64bn).