Brasília – The second half of 2012 will be much better for the Brazilian economy, said the heads of public and private banks after a two-hour-long meeting this Wednesday (8th) with Brazil’s Finance minister Guido Mantega and Central Bank chairman Alexandre Tombini.
According to Federal Savings Bank chairman Jorge Hereda, the only one who spoke to the press after the meeting, the economic outlook for the second portion of the year was discussed, and the bankers are expecting growth to be resumed.
"We will have a much better second half than the first one. So believe all of those who were in attendance,” said Hereda.
The Savings Bank chairman said credit expansion is expected and the spreads (i.e. the difference between the banks’ buying prices and the prices they charge from clients) continue to drop in the country. "It was an assessment-oriented meeting. We at the Savings Bank are doing well, and contributing to the country’s growth,” Hereda summed up.
The meeting was attended by the Banco do Brasil chairman Aldemir Bendine, Bradesco vice-president Júlio Araújo, Itaú chairman Roberto Setúbal, Santander chairman Marcial Portela, Safra vice president Silvio Aparecido de Carvalho, BTG vice president Pérsio Arida, Citibank chairman Hélio Magalhães, and HSBC chairman André Brandão.
*Translated by Gabriel Pomerancblum
