Caixa has a profit of R$ 3 billion in the 1st quarter, a drop of 3.8%

Caixa obtained managerial net income of R$ 3 billion in the first quarter of 2022, a drop of 3.8% compared to the same period last year, according to a balance sheet released this Thursday (12).

According to the bank, the drop was influenced by the provisioning of 100% of operations carried out in credit lines linked to Pronampe (National Support Program for Micro and Small Businesses) and to the FGI (Investment Guarantee Fund).

The bank’s loan portfolio grew 11.2% in the period, to R$889 billion. The delinquency of the loan portfolio closed March at 2.33%, against 1.95% at the end of last year.

The granting of real estate credit by the public bank totaled BRL 34.4 billion from January to March, an increase of 17.8% compared to the first quarter of 2021.

With this performance, the balance of Caixa’s real estate loan portfolio reached R$ 570.5 billion, an increase of 10.1% on an annual basis.

In agribusiness, the bank grew by 204.6% to R$6.7 billion.

Of the total funds contracted in the quarter, credit to agribusiness for individuals was R$3.6 billion and to companies totaled R$3.1 billion, growth of 233.2% and 177.5%, respectively. .

Revenue from services rendered reached R$ 6 billion in the first three months of the year, an increase of 5.8% compared to the same period of the previous year, with emphasis on the 97.5% increase in revenue from security, 16.1% with investment funds and 33.7% with lotteries.

The financial margin (difference between the interest charged and the interest paid to customers) was reduced by 3.3%, to R$ 10.7 billion, “a value resulting from good performance in the result with securities and in income from credit operations, mainly”, says Caixa, in a note.

The ROE (return on equity), an indicator that measures the profitability of financial institutions, was 11.02% at the end of March, an increase of 0.7 percentage point compared to March 2021.