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Banco do Brasil increased its profit by 11.8% between January and September

The state bank Banco do Brasil recorded a profit of 7,903 million reais (2,424 million dollars) between January and September, which represents an increase of 11.8% compared to the same period last year, the entity reported today.

Rio de Janeiro, Nov 9 (EFE) .- The state-owned Banco do Brasil registered a profit of 7,903 million reais (2,424 million dollars) between January and September, which represents an increase of 11.8% compared to the same period last year, the entity reported today.

In the third quarter, the benefit of the largest Brazilian state bank reached 2,841 million euros. real (871 million dollars), 8.5% more than in the previous quarter and 26.5% higher than the same period last year, according to a statement.

The adjusted profit in the accumulated for the year is 7,872 million reals (2,414 million dollars), 45.1% more than in the first three quarters of last year.

Between June and September, the benefit adjusted of Banco do Brasil was 2,708 million reais (830 million dollars), 15.9% more than in the same period of 2016 and 2.2% more than in the second quarter.

"The year of 2018 will be the year of the economic resumption, with an increase in demand and improvement of indicators. constant, "explained the president of the entity, Paulo Rogério Caffarelli.

Banco do Brasil's loan portfolio ended September at 677,000 million reais (208,000 million euros). dollars), 2.7% less than in the previous quarter and 7.9% lower than the third quarter of last year.

The forecast of the entity for this year is a decrease in the portfolio of credit between 1 and 4%, although Caffarelli said that the bank works with the perspective that the Brazilian credit market grow 6% in 2018, the result of the resumption national economic crisis.

For its part, the default rate over 90 days fell from 4.11% in the second quarter to 3.94%, which "interrupts the upward trend initiated in December 2016 "of delinquency.

The assets of Banco do Brasil at the end of September were 1.4 trillion reais (429.447 million dollars), 3.3% less than in September last year and 3.2% lower than the second quarter.

The net equity in September was 93,564 (28,700 million dollars), which represents an increase of 9.1% in the annual comparison and 3.1% in the quarterly.

Banco do Brasil was the last of the four largest Brazilian financial institutions to disclose its quarterly results and in the accumulated for the first nine months of the year.

Itaú Unibanco, the country's largest private bank, recorded a net profit of 18,143 million reais (about 5,565 million dollars) between January and September of this year, which is 13.2% more than in the same period of 2016.

Bradesco, the second largest private financial entity in Brazil, had a profit of 10,866 million reais (about 3,340 million dollars) in the first nine months of the year, 5.4% less than in the same period of 2016.

Santander Brasil, on the other hand, obtained a net profit to September of 7,201 million reais (about 2,208 million dollars), an increase of 34.6% over the same period of 2016.

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