Santander reported net income of BRL 4.084 billion in the second quarter of 2022, which corresponds to a drop of 2.08% compared to the same period last year, and an increase of 2% compared to the first quarter of this year, according to the balance sheet. results released this Thursday morning (28).
The loan portfolio reached R$468.5 billion in June 2022, up 6.5% year-on-year and 2.9% from the previous quarter.
In the annual comparison, the highlights were the segments of individuals, small and medium companies and consumer finance, which presented growth of 14%, 6.7% and 5.6%, respectively.
Among individuals, the highest growth was in personal credit and credit card operations, which increased by 25% and 22%, on an annual basis.
“We remain focused on offering products with guarantees, which currently represent a 64% share in relation to the individual loan portfolio”, said Angel Santodomingo, financial director of Santander, in the balance sheet.
The large companies niche, on the other hand, showed a reduction of 4.1%, according to the bank, due to lower renewals of operations in the period.
Santander’s delinquency rate above 90 days ended the second quarter of the year at 2.9%, remaining stable in relation to March this year. In June 2021, the lateness rate was 2.2%.
The result of bad debt, which indicates the possible losses that the bank may suffer from the non-payment of delinquent customers, totaled R$ 5.75 billion in the quarter, up 72.8% year-on-year, and 24. 6% on a quarterly basis.
According to Santander, the result followed the dynamics of the product mix, mainly in the individual segment.
“Despite the risks of worsening defaults with the evolution of the riskier loan portfolio and more challenging macroeconomic conditions, Santander recorded a good performance in the second quarter of 2022”, say analysts at Mirae Asset Wealth Management in a report.
ROAE (return on average equity), which measures the level of profitability of financial institutions’ operations, reached 20.8%, against 21.6% a year ago, and 20.7% at the end of the first quarter of 2022 .
X-RAY | SANTANDER BRAZIL
Foundation: Active in the local market since 1982
Net income in the 2nd quarter of 2022: BRL 4.084 billion
Customers: 56.1 million
Agencies: 1,738
Employees: 48,406
Mainly competitors: Itaú Unibanco, Bradesco, Banco do Brasil, Caixa
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