Banco Bradesco Stock- Brazil’s Bradesco to continue reducing branch network
SAO PAULO, May 5 (Reuters) – Brazil’s Banco Bradesco will continue to reduce its branch network in 2021, Chief Executive Octavio de Lazari told journalists on Wednesday, in a restructuring likely to affect between 300 and 400 units.
These branches will be closed or resized. Brazil’s second-biggest private lender ended March with 3,312 branches, more than 1,000 units less than a year ago. The new move will help the bank cut operating costs, which are likely to drop at least 5% this year from 2020, he added.
(Reporting by Carolina Mandl)
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