Santander anticipates the end of credit deterioration in Brazil
The bank is betting on greater portfolio diversification, with more emphasis on high-income clients.
Santander, a major bank, is shifting its focus in Brazil to high-income clients and diversifying its portfolio to reduce risk exposure. The bank believes the pressure on its Brazilian business is nearing its peak and that the worst is over in terms of risk costs, which are expected to remain at 4.2% in 2026. Santander's Brazilian operations have seen a 30% increase in dollar-denominated portfolios and a greater emphasis on affluent clients, with this segment growing by four percentage points in the last year.
The bank forecasts a resilient economy in Brazil in 2026, but notes that uncertainty surrounding October's elections may impact growth sustainability.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
