President of Bradesco estimates double-digit growth of the loan portfolio in 2022

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President of Bradesco estimates double-digit growth of the loan portfolio in 2022

The scenario for 2022 promises to be a challenging year for the Brazilian economy, amid an environment of high interest rates and inflation, weak growth and political uncertainties due to the elections.

Despite the perfect storm that looms on the horizon, for the president of Bradesco, Octavio de Lazari Jr., it will be possible to maintain a good pace of business growth during the coming year.

“I believe that [a carteira] will grow double digits next year. It may not be 16% [a previsão do Bradesco para 2021 é de um crescimento entre 14,5% e 16,5% da carteira de crédito, revista após os resultados do terceiro trimestre], but it will be close to that,” said Lazari, during a conference call to comment on the results of the third quarter.

“We would not review the guidance [projeção] if we were not convinced of the capacity for growth that we can have for next year,” said the president of Bradesco.

In recent days, the presidents of Santander Brasil and Itaú Unibanco, Sérgio Rial and Milton Maluhy Filho, commented that they expect some accommodation in the pace of growth in credit portfolios next year.

The president of Bradesco acknowledged that the view of economists and the market has shown a 2022 of great difficulty, but he also pointed out that this is not the scenario he works with to define the budget for the business.

“Our bank will not make it difficult to sell facilities,” said Lazari. “We have the capacity to grow in 2022, with the difficulties in perspective,” he added.

The executive pointed out, among the factors that contribute to the bank’s positive view, the resilience that the agribusiness sector must continue to demonstrate, as well as the expectation for a full economic reopening and the well-behaved level of indebtedness of companies.

The digital fronts via initiatives such as banks Next and Digio were also mentioned as strategies that should bring positive numbers to the bank’s balance sheet in the coming months. “In times of more difficulty, Bradesco has always grown,” stated Lazari.

The president of Bradesco also said that he was surprised by the fact that the level of default has remained at historically low levels in recent quarterly results.

“We have more than enough provision to face an eventual increase in default,” stated Lazari. He believes that the delinquency rate may have some increase for next year, but that it will remain below the historical average.

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