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Lender Banco do Brasil posts 8% rise in second-quarter adjusted profit
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Lender Banco do Brasil posts 8% rise in second-quarter adjusted profit
Aug 7, 2024 4:21 PM

SAO PAULO, Aug 7 (Reuters) - State-controlled lender

Banco do Brasil reported on Wednesday 8.2%

year-on-year growth in its second-quarter adjusted net profit.

The bank posted adjusted net profit of 9.50 billion reais

($1.69 billion) for the period, slightly above the 9.24 billion

profit estimated by analysts polled by LSEG.

WHY IT'S IMPORTANT

Banco do Brasil is one of Latin America's largest lenders by

total assets.

BY THE NUMBERS

The lender's return on equity stood at 21.6%, up from

21.3% a year earlier but just below 21.7% reported in the first

quarter.

Its total loan book stood at 1.18 trillion reais, up from

1.14 trillion in the first quarter, while delinquency over 90

days was at 3%, increasing from 2.9% in March.

It also raised its 2024 net interest income growth

forecast to between 10% and 13% from 7% to 11%. This year's loan

loss provisions guidance was hiked up to 31 billion to 34

billion reais, from 27 billion to 30 billion previously.

($1 = 5.6369 reais)

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