Banco do Brasil distributes wealth to those who insure and deposit their income in the institution. On August 9, BB reported that it had a plan to distribute about R$410 million. The conversion takes place through a mechanism called interest on equity (JCP). In addition to the reported amount, approximately R$1,868,239,152.74 will continue to pass.
In total, the bank will count R$ 2.27 billion in remittances, which represents the results obtained during this quarter. Payments will be transferred up to the 30th of this month and the amount must be adjusted according to the prime interest rate, Selic. And so BB shows that its results were quite positive in the first quarter of the year.
The illustrious financial institution generated R$8.785 billion in net profit, an increase of 11.7% over the same period of the previous year. The performance surprised analysts, who expected growth slightly lower than achieved, of R$8.663 billion. With this amount, BB was the bank with the most profit in the first quarter, overtaking Itau, Santander and Bradesco.
The result can be explained by the bank’s performance in the commercial sector, in line with the expansion of the loan portfolio, which totaled R$1.045 trillion, an increase of about 13.6% over 2022. It also witnessed a remarkable growth, up by 5.6% over the last 12 months.
The Bank of Brazil reported a poor result
Since not everything is rosy, Banco do Brasil also issued a not very attractive result for the institution. The default rate increased by about 2.73% in June. Thus, provisions to debtors should be R$7.176 billion, up 143% compared to the previous year.
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