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The high level of loans taken out by Mr. Stiller raises important questions about how executives handle large stakes.
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The banks blame their high level of loan-loss provision on the frailty of Brazilian courts, which are slow and often kind to debtors.The third-biggest chunk of the spread comprises taxes.
"There is a worry that requiring high levels of loans will have the effect of discouraging those folks from going to school," he said.
The very poor are able to access grants, bursaries and higher levels of loans - and the very rich can afford not to worry about the extra cost.
The commission "fundamentally questions any system that charges higher education at a rate where the average graduate will not be able to pay it back" and "where, for example, a teacher is unable to secure a mortgage at age 35 because of the high level of monthly loan repayment".
Sluggish growth and high levels of unemployment are reflected in the high level of non-performing loans that are now hobbling Italian banks.
He noted, however, that the bank was still seeing a high level of souring mortgage loans, and said he expects high default-related expenses "for a while longer".
The banks cannot restore their solvency unless enterprise performance improves substantially, but the high level of non-performing loans makes it difficult for banks to provide the funds that enterprises need to restructure and improve their performance.
Although ICBC has reduced its nonperforming loans from more than 21% in 2004 to 4.1% today, that remains above the levels of its listed peers, and the high level of long-term loans on its books should give investors something to think about.
"Lower interest rates supported strong growth in new business activity compared to the prior year, however this was balanced by higher levels of loan repayments".
UFJ has suffered losses for three years because of high levels of nonperforming loans and has fallen behind in a government-mandated schedule to clean up its loan portfolio.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com