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Bradesco sees expense growth at bottom of guidance this year
April 28, 2017 / 12:45 PM / 5 months ago

Bradesco sees expense growth at bottom of guidance this year

SAO PAULO, April 28 (Reuters) - General and administrative expenses at Banco Bradesco SA will probably grow at the lowest end of a project range this year, as Brazil’s No. 3 listed bank captures more cost savings stemming from the acquisition of HSBC Holding Plc’s local unit, executives said on Friday.

Bradesco forecasts non-interest expenses to rise between 10 percent and 14 percent this year. Last year, they rose almost 18.5 percent due to the integration of HSBC Bank Brasil Banco Múltiplo SA. (Reporting by Guillermo Parra-Bernal)

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