Bradesco to focus on Brazil
(For other news from the Reuters Latin American Investment Summit, click here)
* Bradesco to focus on Brazil, plans no takeovers abroad
* Worst of crisis seen over, risk appetite returning
* CEO Trabuco sees no bubble in Brazil stock market rally
By Elzio Barreto
SAO PAULO, May 8 (Reuters) - Brazilian bank Bradesco (BBDC4.SA: Quote, Profile, Research)(BBD.N: Quote, Profile, Research) will focus its growth efforts on the domestic market, where it sees rising demand for banking services amid a rebounding economy, and plans no overseas bids, Chief Executive Luiz Carlos Trabuco Cappi said in an interview on Friday.
Bradesco, Brazil's second-largest private sector bank, expects no more major consolidation in the country's financial services market after years of frenzied activity. The bank plans to expand organically and sees its main challenge as grabbing a bigger share of local clients, Trabuco said.
"We have scale to compete in the market with the format we already have," Trabuco said at the Reuters Latin American Investment Summit in Sao Paulo. Continued...
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