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Itau Unibanco's CEO sees loan delinquency surpassing levels of previous crisis

Credit: REUTERS/PAULO WHITAKER

Itau Unibanco Holding SA's Chief Executive Candido Bracher told journalists on Tuesday that next year he sees Brazil's 90-day default ratio reaching higher levels than in previous crisis.

SAO PAULO, Aug 4 (Reuters) - Itau Unibanco Holding SA's ITUB4.SA Chief Executive Candido Bracher told journalists on Tuesday that next year he sees Brazil's 90-day default ratio reaching higher levels than in previous crisis.

To weather the impact of the coronavirus crisis, the bank is seeking a nominal reduction in operating expenses this year and next, Chief Financial Officer Milton Maluhy said.

(Reporting by Carolina Mandl, editing by Louise Heavens)

((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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