(Adds share performance, details throughout)
By Guillermo Parra-Bernal
Feb 2 Itaú Unibanco Holding SA plans
to boost loan-loss provisions faster than rivals and slow loan
disbursements this year, prompting shares to slump on Tuesday,
as Brazil’s longest recession in over a century and slowing
activity across Latin America bite harder than expected.
Provisions could rise up to 38 percent to 25 billion reais
($6.9 billion) this year, with over 95 percent of that being set
aside in Brazil. Credit could even shrink slightly too, the
first time Itaú warned investors over such a grim outlook for
loan disbursements in years.
Such warnings underscore Chief Executive Officer Roberto
Setubal’s efforts to strengthen Itaú’s balance sh…
Read the full article at: http://www.reuters.com/article/itau-unibanco-results-idUSL2N15H0EK