O Bank of Brazil (BAAS3) recorded adjusted net income of R$ 7.8 billion in the second quarter of 2022, according to the report released this Wednesday (10).
The result represents a jump of 54.8% in relation to the same period last year and came above the estimates of the market consensus, which pointed to gains of R$ 6.2 billion, according to the Bloomberg.
In the first half of the year, the state-owned reached a record adjusted net income of R$ 14.4 billion, an increase of 44.9% compared to a year earlier.
According to BB, the result was influenced by the increase in the gross financial margin, diversification of revenue from services and discipline in the management of expenses.
“With this, the efficiency ratio accumulated in 12 months reached 33.2%, the best in our historical series”, highlighted the bank.
THE expanded credit portfolio totaled BRL 919.5 billion in June, advancing almost 20% year-on-year. There was strong growth in all segments.
The expanded individual portfolio increased 14.1%, with payroll loans up 10.5%, personal loans 29.3% and credit cards 51.7% (all on an annual comparison basis).
The corporate portfolio expanded 19.1% in one year, with working capital growing 6.5%, private securities and guarantees 59% and receivables 59.1%.
BB highlighted that the disbursements made in the month of August in the pronampe already total more than R$ 6.5 billion, benefiting more than 62 thousand companies.
in the segment of agribusiness, the expanded portfolio totaled R$ 262 billion, maintaining a good performance. In relation to June 2021, the result rose 27.3%, with emphasis on the growth of agribusiness credit rights certificate, which soared 463.4%. Rural product notes and guarantees advanced 74.4% in one year, while investment rose 62%.
The bank’s service fees totaled R$7.8 billion in the second quarter. Administrative expenses reached R$ 8.3 billion, 1.3% higher than the previous quarter and below the inflation recorded in the period.
ROE (return on equity) reached 20.6%. The Basel Ratio reached 17.54%, of which 12.49% was principal capital.
Along with the results, BB announced this Wednesday the distribution of R$ 2.19 billion in dividends and interest on equity (JCP).
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