Itaú and Bradesco dispute the letter of two American partners: “light” and “deviation of attention”

The two largest private banks in Brazil strongly reacted to the letter of two main American partners. Itaú Unibanco says that it is “lightly attempting to attribute to the banks” responsibility for the accounting management of the varejista. Já or Bradesco says that the partners try to “divert attention from the central problem, or say, in the absence of consistency, two numbers” of the Americans.

On Sunday (22), a group known as 3G released a letter about an accounting scandal in the company. Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto Sicupira share the text in which they affirm that, as well as the banks that have business with Americans, the group was not able to perceive the accounting problem in the varejista.

This third fair (24), Itaú Unibanco published a note in which it reads that “the elaboration and approval of the financial statements that perform the reality of the company is the sole and exclusive responsibility of the administration of the company” and that this work does not have “no influence from two banks or other creditors”.

The largest private bank in Brazil says that it has always adopted the best market practices in relation to Americans and the operations with the company are always reported to the Central Bank system. “In this way, it is light to attempt to attribute to the banks any responsibility for the irregular accounting practices of the company”, quote or text.

The concurrent Bradesco also decided to respond. “The accounting governance of companies is the exclusive and non-transferable attribute of their administration, including the Administrative Council”, quote or text.

“We do not compact with allegations that seek to create narratives to attribute to the banks any responsibility for the irregular accounting practices of the company”, complete or text. For Bradesco, the positioning of two partners seems to try to “divert attention from the central problem, or say, due to a lack of consistency, two numbers of financial statements and the responsibilities of their leaders on such a fact.”

Americanas were procured by CNN for a position on the manifestation of two banks. The text will be updated with the feedback from the varejista.

This content was originally published in Itaú and Bradesco rebutting a letter from two American partners: “leviana” and “deviación de atenção” on the CNN Brasil site.

Source: CNN Espanol