MercadoLibre’s fintech chief said the company is “not seeing any deceleration or deterioration” in its Brazilian credit portfolio. The comments offer reassurance to investors concerned about the health of the company’s sizable credit operations in its largest market ahead of its Nov. 4 earnings release.
MercadoLibre shares have fallen about 14% over the last three months, partly amid investor concerns about Brazilian assets following President Lula’s recent election victory. Investors are awaiting the quarterly report for data on credit quality and management’s outlook for the region.