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Brazil bank carnage defies better profit forecast as stock rout worsens

Monday, July 27, 2015 - 05:50
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Itau, Latin America's largest bank by assets, extended a six-day plunge to 8 per cent last Friday.

Sao Paulo

BRAZIL'S biggest banks are trading at the cheapest levels in three years compared with the Ibovespa stock index, even as analysts boost their earnings estimates.

Itau Unibanco Holding SA and Banco Bradesco SA posted the worst weekly declines since May as the stock gauge