SAO PAULO, Aug 12 (Reuters) - Brazilian lender BTG
Pactual reported better-than-expected second-quarter
results on Tuesday, with revenues across all business segments
rising by double-digit percentages on a yearly basis.
WHY IT'S IMPORTANT
BTG Pactual is Latin America's largest investment bank and
has been driving an international push, including the recent
purchase of HSBC's operations in Uruguay.
BY THE NUMBERS
BTG reported an adjusted net income of 4.18 billion reais
($767.89 million) for the April-June period, up 42% from the
previous year. Analysts polled by LSEG had expected a bottom
line of 3.63 billion reais.
Total revenue came in at 8.29 billion reais, a 38.5%
increase, also exceeding forecasts of 7.32 billion reais.
Return on average equity (ROAE), a gauge of profitability,
stood at 27.1%, up from 22.5% a year earlier.
ADDITIONAL CONTEXT
The lender said it posted significant year-on-year revenue
growth across all business segments, including investment
banking (+40%), corporate lending (+37%), and sales and trading
(+38%).
KEY QUOTE
"We closed another quarter with outstanding results, marked
by record-breaking performances in nearly all business lines and
an exceptional ROAE. These figures reflect our consistent
ability to create value and the strength of our diversified
business model," CEO Roberto Sallouti said in a statement.
($1 = 5.4435 reais)