Brasília – This Thursday (3rd), the Bank of Brazil (BB) announced that it posted a net profit of 2.891 billion reais (US$ 1.657 billion) in the third quarter of the year. In the same period of last year, the bank’s net profit stood at 2.625 billion reais (US$ 1.504 billion).
From January to September, the bank posted a net profit of 9.154 billion reais (US$ 5.247 billion), 18.9% more than in the same period of 2010. The Bank of Brazil’s total assets stood at 949.781 billion reais (US$ 544.477 billion) by late September 2011, a sum 19.2% larger than in September 2010 and 5% larger than the result as of June this year.
The bank’s credit portfolio, including warranty instalments and private securities, reached 442 billion reais (US$ 253 billion), representing a 21% increase over the preceding 12-month period and a 4.5% increase a quarter-on-quarter. According to a report issued by the bank, credit to legal entities contributed to the result, as did large and medium businesses.
The bank’s agribusiness portfolio reached 83.780 billion reals (US$ 48 billion) during the quarter, representing a 2.8% increase over the second quarter of this year.
*Translated by Gabriel Pomerancblum
