Brazil Banks Stable in Crisis, Says Fitch

Brazilian banks should continue to face the pressures of the global financial crisis without significant harm, owing to strong financial profiles, a Fitch Ratings report released Thursday said.

Fitch said Brazil's banks compared well across the global banking industry, despite experiencing the declining profitability, deteriorating asset quality and tighter liquidity that are typical results of an economic downturn.

Unlike many of their global peers, Brazilian banks' capital ratios have remained largely unchanged during the course of the crisis, the report said.

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