Brasília – The Brazilian semi-public bank Banco do Brasil (BB) posted a net income of BRL 2.359 billion (USD 679.5 million) in Q1 this year, a 59.5% drop over Q1 2015. BB said the reduction owes itself to Cateno, an e-payment corporation established jointly with Cielo. Adjusted net income reached BRL 1.286 billion (USD 370.4 billion).
BB’s credit portfolio for agribusiness hit a record BRL 179.5 billion (USD ). Credit to natural persons was BRL 185.3 billion (USD 53.3 billion) at the end of March, with real estate credit at BRL 50.3 billion (USD 14.4 billion).
*Translated by Gabriel Pomerancblum
