Fitch Publishes Brazilian Large Public Banks Dashboard

RIO DE JANEIRO--(BUSINESS WIRE)-- Fitch Ratings has published its Brazilian Large Public Banks Dashboard, a publication that examines Brazil's three largest federal government owned banks, Banco do Brasil S.A. (BdB), Banco Nacional de Desenvolvimento Economico e Social (BNDES) and Caixa Economica Federal (Caixa).

Key items covered in this report include the 2015 year-end results of BdB, BNDES and Caixa and Fitch's outlook on their asset quality, profitability and capitalization for 2016.

All three banks reported large declines in operating profits in 2015, mainly as a result of higher impairment charges that were driven by the weak macro backdrop. Fitch believes that outlook is increasingly challenging in 2016 and thereafter for these banks. The agency forecasts GDP to contract 3.5% and unemployment to continue to rise in 2016; therefore, impairment charges in both retail and corporate segments will continue to increase.

The 'Brazilian Large Public Banks Dashboard' is available on Fitch's website at www.fitchratings.com, or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

Brazilian Large Public Banks Dashboard (2015 Full-Year Results)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=880088

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160414005968/en/

Fitch Ratings
Esin Celasun
Director
+55 21 4503-2626
Fitch Ratings Brasil Ltda.
Praca XV de Novembro 20, 401B - Rio de Janeiro - RJ - Brazil
or
Claudio Gallina
Senior director
+55 11 4504-2216
or
Media Relations:
Elizabeth Fogerty, +1 212-908-0526
[email protected]

Source: Fitch Ratings

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