State-owned Banco do Brasil,
Brazil’s largest banking group, has posted a net income of BRL1.66
billion ($822 million) in the first quarter, a drop of 29.1 percent
in relation to the same period of 2008.
Banco do Brasil’s loan portfolio grew to
BRL254.5 billion, up 7.3 percent in the quarter and 41.3 percent
year-on-year. Total assets ended the quarter at BRL591.9 billion,
growth of 42.9 percent over the 12 month period. The consolidation
of rival Banco Nossa Caixa helped to add BRL54.3 billion in assets
to the bank (see RBI 609).
Go deeper with GlobalData
The retail loan portfolio grew 67.0 percent
over the 12 month period and 25.3 percent over the quarter: the
main highlights were payroll loans and vehicle financing, with
year-on-year growth of 44.1 percent and 97.7 percent, respectively.
Payroll loans alone represent 30.1 percent of all personal loans
for the bank.
Itaú Unibanco, the largest commercial bank in
the country, recorded net income for the first quarter of 2009 of
BRL2.56 billion, a 9.5 percent increase compared to the fourth
quarter of 2008. Itaú Unibanco’s bad-loan provisions jumped 93
percent to BRL21.6 billion in the quarter, while its non-performing
loans’ rate rose to 5.6 percent from 4.8 percent a year
earlier.
Bradesco, the country’s second-largest
commercial bank, recorded first-quarter 2009 net income of BRL1.723
billion, down 9.6 percent from the final quarter of 2008.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
