Brazil's Banestes expects stronger loan growth

Bnamericas Published: Tuesday, February 19, 2019
Brazil's Banestes expects stronger loan growth

Mid-sized Brazilian bank Banestes expects its loan book to expand up to 10% this year on the back of a stronger economy.

After expanding an estimated 1.3% last year, local economists forecast that Brazil's economy will expand at around 2.5% this year.

Controlled by the state of Espírito Santo, Banestes' loan portfolio totaled 5.9bn reais (US$1.57bn) at the end of 3Q18, the most recent figure available, up 8.1% year-on-year.

Banestes will in the coming days releases its full-year financial results for 2018.

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