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Itaú sees Car Wash probe-related provisions at 'adequate' levels
February 7, 2017 / 2:51 PM / 10 months ago

Itaú sees Car Wash probe-related provisions at 'adequate' levels

SAO PAULO, Feb 7 (Reuters) - Loan-loss provisions at Itaú Unibanco Holding SA related to corporate borrowers ensnared in Brazil’s worst corruption scandal are at adequate levels, Chief Executive Officer Roberto Egydio Setubal said on Tuesday.

Speaking at an event to discuss Itaú’s fourth-quarter results, Setubal said a continuing decline in loan defaults will ensure the bank ends this year with lower provisions than in 2016. (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal)

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