Lender Banco do Brasil posts 8% profit increase, higher loan-loss outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
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Should l Buy ?
Source: Reuters
Banco do Brasil's Profit and Provisions: Banco do Brasil reported an 8.3% increase in its third-quarter adjusted net profit to 9.5 billion reais ($1.6 billion), exceeding analyst expectations, but anticipates higher loan-loss provisions for the year, raising its forecast to between 34 billion and 37 billion reais.
Loan Growth and Delinquency Rates: The bank's total loan book grew by 13% year-on-year to 1.2 trillion reais, while its delinquency ratio increased to 3.3%, up from 3% in the previous quarter and 2.8% a year earlier.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
