22-06-2016 23:02 via uk.news.yahoo.com

Banco do Brasil to raise Oi-related provisions, source says

State-controlled Banco do Brasil SA, the nation's largest lender by assets, plans to book additional loan-loss provisions of 650 million reais ($192 million) due to a decision by phone carrier Oi SA to seek bankruptcy protection this week, a source with direct knowledge of the situation said. Should a bankruptcy court approve Oi's petition, Banco do Brasil would have to raise provisions on outstanding loans to Oi to 1.2 billion reais, said the source, who requested anonymity to speak about the m
Read more »