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Brazil’s Economy Is Growing Again According To Bradesco Chairman Luiz Carlos Trabuco

Brazilian bank profits don’t suffer during economic downturns. The fact that the banks in Brazil are recession-proof is common knowledge. The country was in a deep recession for the last three years, but private banks like Itaú and Bradesco had record-breaking profit years. The banks in Brazil make money through investments, insurance and by lending money they know they will get back with lots of interest. But the interest rates are coming down, and the economy is picking up, according to bank Chairman Luiz Carlos Trabuco. Trabuco was the CEO of Bradesco until he turned the keys to the CEO’s office to Octavio Lazari, a long-time Bradesco executive in January 2018.

The Industrial output in Brazil took a nose-dive in May 2018. That decline was the sharpest decline in 10 years, thanks to a truckers’ strike. Industrial production fell 10 percent in 30 days, and the government said that decline was the biggest decline since December 2008. Luiz Carlos Trabuco and the executives who watch the Brazilian economy on a daily basis know the truckers’ strike won’t last long especially in an election year. So the big banks are not trying to take advantage of the situation for political reasons. The banks like to stay politically neutral, according to Trabuco, but that’s hard to do in a nation that lives in a political nightmare.

Luiz Carlos Trabuco and the Bradesco executive team have their own challenges to face. More than 35 percent of all bank transactions were mobile transactions in 2017. Bradesco has more than 5,300 bank branches and 12,000 ATMs across the country. Some of those branches aren’t profit centers anymore, so Trabuco and his team of executives under the leadership of new CEO Octavio Lazari are developing new mobile programs to stay relevant with their Millennial customers.

Finding new revenue streams is one of Luiz Carlos Trabuco’s talents. He has a reputation for adding revenue to the bank’s bottom line. Luiz continues to use his creativity and experience to forge new profit paths now that Bradesco’s stock is a top pick on Wall Street. The world is watching Mr. Trabuco and Bradesco. The people who know Trabuco say he won’t disappoint investors or the bank’s customers in his new position as Chairman of the Board.

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