SAO PAULO (Reuters) – BTG Pactual SA cut its exposure to some companies in the second half of last year, Renato Cohn, the chief financial officer of Latin America’s largest independent investment bank, said on Monday.
“We had already been reducing exposure to some more leveraged companies,” said Cohn about his work at BTG in the second half of 2022.
Earlier, the bank’s president, Roberto Sallouti, said that BTG provisioned 60% of its exposure to Americanas.
The bank’s shares were up around 3% at 3:01 pm, while the Ibovespa had a positive fluctuation of 0.7%.
BTG released Monday adjusted net income of 1.8 billion reais for the fourth quarter, practically stable compared to the performance of a year earlier.
(By Aluísio Alves)
#BTG #reduced #exposure #companies #year #ISTOÉ #DINHEIRO