Business

How Brazilian banks make huge profits despite the crisis

How Brazilian banks make huge profits despite the crisis
The recession has not crippled Brazilian banks

In the words of the International Monetary Fund, the Brazilian economy is “underperforming relative to its potential, public debt is high and increasing, and, more importantly, medium-term growth prospects remain uninspiring.” If the fund’s predictions are correct, Brazil’s GDP will grow by only 1.8 percent, after numerous revisions. In 2019, the next president will inherit a country with little investment capacity (only 0.5 percent of the GDP) and a brutal fiscal crisis.

Yet, Brazil’s biggest banks seem to be cruising through the crisis.

The country’s top four banks on...

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