The Brazilian banking industry has displayed dynamics that have puzzled players in the banking industry. Most of the time, the performance of financial institutions is influenced by the state of the economy. Learn more about Igor Cornelson: https://about.me/igorcornelsen1
This, however, was different in the last months of 2014 when Brazilian economy was experiencing numerous hurdles. Instead of a decline in performance, the country’s major private banks saw an increase in profits and shares.
One of the country’s renowned investment experts and giants in the banking industry, Igor Cornelsen, gave an extensive explanation of the phenomenon.
The banker indicated that Brazilian banks survived this storm due to their experience with such economic conditions as well as their knowledge of the market. Read more: Igor Cornelsen Identifies 5 Ways Businesses Can Organize To Be More Successful and Adicione uma descrição a este tópico
He further noted that Brazilian banks are keen on providing loans to creditworthy clients with a fair credit rating. Due to this, borrowers who do not qualify for these investments end up considering cash-based spending.
This condition may adversely impact development and the Brazilian macro-economy, but is fruitful to the lenders as the avoid losses due to defaulters.
He also highlighted that the partnership between the country and China also contributed to this success. For a long time, the giant economy has been a key trading partner.
The partnership has ensured good prices for Brazilian raw materials and products as well as high-quality imports at reasonably lower prices. Being the largest economy in South America and the eighth largest in the world, the country’s economy significantly benefits from such support.
Igor Cornelsen is a well-known financial investor who possesses an in-depth knowledge of different forms of investment. He earned the skills and know-how during his experience as a financial advisor and banker.
Before his retirement in 2010, the investment advisor had held executive positions in the country’s banking industry. Currently, Cornelsen lives in Florida and focuses on running Bainbridge Investment Inc., where he is also the proprietor.