Brasília – Banco do Brasil – BB (Bank of Brazil) reported this Thursday (14th) that it has posted a net profit of R$ 5.818 billion (US$ 1.93 billion) in Q1 2015. The amount is 93.3% higher than the R$ 3 billion (US$ 998.9 million) recorded in Q4 2014 and 115.4% higher than the R$ 2.7 billion (US$ 899 million) of Q1 2014.
The institution also recorded R$ 1.524 trillion (US$ 507.4 billion) in assets in March 2015, an increase of 11.2% year-to-year and an increase of 6% over Q4 2014.
BB is the largest institution in assets among companies of the financial sector in Latin America. According to the bank’s release, the performance in Q1was supported especially by the expansion of the credit portfolio, which reached R$ 776.9 billion (US$ 258.6 billion) last March, an increase of 11.1% year-to-year and of 2.1% over Q4.
According to BB, the bank kept the top spot in credit at the National Financial System (SFN), with 20.8% of market share.
According to the release, the delinquency rates of the bank “remained on lower levels than the ones seen at the SFN”. At the end of March 2015, the rate operations with more than 90 days overdue represented 2.05% of the credit portfolio. The financial institution pointed out that, in the same period, SFN recorded a delinquency rate of 2.8%.
*Translated by Sérgio Kakitani
