Santander Brasil has a profit of R$ 3.75 billion in the fourth quarter

Santander Brasil recorded net income of R$ 3.748 billion in the fourth quarter of this year, a 3.9% increase over the previous three months, when the gain had stood at R$ 3.608 billion. Management profit, which excludes extraordinary factors, stood at R$ 3.726 billion in the last three months of last year, according to a balance sheet released by the bank on Wednesday (29). In 2019, Santander's net income totaled R$ 14.181 billion, up 16.6% compared to 2018 (R$ 12.166 billion). Management profit reached R$ 14.55 billion, up 17.4%. Total revenues totaled R$ 65.379 billion in 2019, an increase of 6.8% compared to the previous year. Total expenses totaled R$ 21.238 billion, an increase of 5% compared to 2019. The main expenses were specialized technical services and third parties and advertising, promotions and advertising, according to the bank in a statement. The credit portfolio, in turn, grew 15.3%, and reached R$ 352.028 billion at the end of 2019. "It is worth mentioning the resumption in the quarter in large companies, which increased 8.1%, and small and medium-sized enterprises that grew 6.7%. Our market share in credit reached 10.0% in November 2019, representing the highest level in the last ten years, and an increase of 0.75p.p. in twelve months," the bank said in a statement. According to the bank, the number of total active customers reached 26.3 million in December, a 9% increase over last year. Overall result Worldwide, the Spanish bank recorded a 17% drop in net income in 2019, as a result of the large depreciation of its British subsidiary, hampered by the uncertainty of Brexit, but with positive results in Latin America, accounting for 46% of global profit. Net income of 6.515 billion euros exceeded analysts' forecasts from financial news agency Factset, who projected a result of 6.27 billion euros. The UK, which was once Santander's main market, has been losing importance in contributing to the bank's results, the largest in capitalising on the euro area stock exchange since the Brexit referendum in 2016. The country now accounts for only 11% of its overall profit. Brazil has become the bank's largest market, with a contribution of 28% of the world's profit.