BB (Banco do Brasil) reported adjusted net income of R$ 7.8 billion in the second quarter of 2022, which is equivalent to a growth of 54.8% compared to the same period last year and 18% compared to the same period last year. to the immediately preceding quarter, according to balance sheet released this Wednesday (10).
In the first half of the year, profit was R$ 14.4 billion, up 44.9% over the same period last year.
The result led the bank to review the projection for profit expansion in 2022, from a range between R$23 billion and R$26 billion, to between R$27 billion and R$30 billion.​
The public bank’s loan portfolio reached R$919.5 billion at the end of June, an increase of 19.9% ​​year-on-year and a 4.1% increase in the margin.
Considering the period from January to June, BB’s loan portfolio grew 20.8%, with the projection for the year’s evolution changing from a range between 8% and 12%, to between 12% and 16%.
“The sustainable and healthy increase in credit is one of the pillars of the result presented”, says the bank in the results report.
The individual portfolio grew 14.1% compared to June 2021, to R$274.5 billion, with emphasis on the positive performance of the credit card modalities (51.7% growth in the annual comparison), personal loan (29 .3%) and payroll-deductible loans (10.5%). In the quarter, the portfolio grew 2.1%.
The corporate loan portfolio ended the quarter with a balance of R$ 336.8 billion, an annual growth of 19.1%. In this case, we highlight the growth in working capital operations (6.5%). In the quarter, the evolution was 4.9%.
The bank’s agribusiness loan portfolio reached R$262 billion, up 27.3% year-on-year, driven by items such as agribusiness credit rights certificates (463.4%). In the quarter, the portfolio grew 2.9%.
The delinquency rate over 90 days, in turn, rose to 2% in the second quarter, against 1.86% in June 2021 and 1.89% in March this year.
“BB has the lowest delinquency rate over 90 days among large banks and maintains a robust coverage level, enabling the gradual transition of the portfolio mix in search of the best risk-return ratio”, said Fausto Ribeiro, president of BB, in a statement.
Among individuals, the late payment rate ended the quarter at 4.31%, compared to 2.96% in the same period last year, and 3.82% in the first quarter of 2022.
The PCLD (Provision for Doubtful Accounts) totaled BRL 2.93 billion and increased 2.3% compared to the second quarter of last year, and 6.5% compared to the first quarter of 2022.
Banking service fees totaled R$7.84 billion in the second quarter, up 8.9% year-on-year, mainly influenced by the performance of fund administration (+8.7%) and credit operations (+26%). In the quarterly comparison, revenues grew 4.3%.
As a result of the numbers presented, BB’s RSPL (Return on Shareholders’ Equity), an indicator that measures the profitability of the financial institution’s operation, increased to 20.6% in June, against 14.5% in June 2021 and 18, 1% in March this year.
“With the delivery of robust results over the last six quarters, we have reached the level of profitability of private peers”, said the bank’s president.
X-RAY | BANK OF BRAZIL
Foundation 1808
Net income in the 2nd quarter of 2022 BRL 7.8 billion
agencies 3,986
Employees 86,313
Mainly competitors Itaú Unibanco, Bradesco, Santander and Caixa Econômica Federal
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