Brazil's Bank profit rises 25.6% in a year and R bi $3.4

The Bank of Brazil ends this Thursday, 8, the season of the big publicly traded banks in the country to disclose adjusted net income of R $3.402 billion in the third quarter, 25.6% greater than the amount recorded a year earlier, R $2.708 billion. Compared to the previous three months, when the figure was R $3.240 billion, grew 5.0 percent. The result of the BB in the third quarter, according to a report accompanying its financial statements for the period, was driven by lower spending on defaults and net financial margin growth. He also served, according to the Bank, the largest increase in credit recovery. In the nine first months of 2018, the adjusted net income of BB was the R $9.7 billion, an increase of 22.8% compared to the same period of the previous year, R $7.903 billion. "The result was impacted by the reduction of the costs of the provision of credit, by increasing revenues, who grew up in inflation and by controlling costs, which ranged below inflation," explains the BB, in accompanying statements report financial. The expanded credit portfolio totaled R BB $686.264 billion at the end of September, mild elevation of 0.1% before June, when the balance was R $685.462 billion. In one year, increased by 1.4%. The boost came from an individual, with expansions of 1.0% compared with June and 2.3% in 12 months. The legal entity, however, retreated 2.3% and 5.9%, respectively. In the credit portfolio, the bank reference internal organic for your guidance, the balance was $636.952 billion, R increase of 2.2% in a year and 0.6% in the second quarter. The BB closed September with R $1.471 trillion in total assets, 5.1% in a year. In the quarterly comparison, increased by 1.4%. The shareholders ' equity was R BB $103.820 billion at the end of September, 11.0% in a year and 1.2% in three months. Its return on equity (RSPL) market in the question was 14.3% in the third quarter compared to 14.3% in the second. In a year, was at 12.8%. Shareholder return on the criterion of the BB was 15.7% against 15.1% in the second quarter and 14.1% in 12 months. According to the Bank, the improvement of the indicator "reinforces the commitment to increased profitability." The net profit of the BB, considering extraordinary events, stayed in R $3.175 billion in the third quarter, rising to 11.8% in a year, R $2.841 billion. In three months, when was R $3.135 billion, grew 1.3%. The difference between the adjusted profit and the result with non-recurring events in the second quarter, as the Bank took on behalf of R $444 million with extraordinary provision with quotas and demands, on the positive side, fiscal effects of R $211 million.