SAO PAULO Dec 2 State-controlled Banco do
Brasil SA is considering curbing offshore lending activity as
the nation's largest bank tries to boost returns and focus on
its home turf, Chief Executive Officer Paulo Rogêrio Caffarelli
said on Friday.
Caffarelli, speaking at an event with the bank's
shareholders in São Paulo, said as much as half of outstanding
loans made offshore could not be renewed. Ongoing efforts to
reduce the bank's branch network and staff are likely to impact
results as early as next year.
(Reporting by Guillermo Parra-Bernal)