Banco Santander (Brasil): Valuation Needs Optimism Around Credit Cycle, Exchange Rates
2026-02-04 20:29:37 ET
Banco Santander (Brasil) ( BSBR ) recently presented 4Q25 earnings.
The results were in line with the trends we had covered in August 2025 , i.e., a more moderate expansion of the loan book (with callouts for SMEs and other forms of riskier lending) and a worsening of NPLs at a time of potential pivot in the Brazilian credit cycle....
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Banco Santander (Brasil): Valuation Needs Optimism Around Credit Cycle, Exchange RatesNASDAQ: BSBR
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