Rio de Janeiro – Brazil’s National Development Bank (BNDES) had a net loss of BRL 2.174 billion (USD 693.3 million at today’s exchange rate) in H1 this year – in H1 2015 it registered BRL 3.51 billion (USD 1.1 billion) in profit.
BNDES imputed the losses to credit and shareholder portfolio-related spending provisions. Said expenses reached BRL 9.59 billion (USD 3.05 billion) in H1 2016, up BRL 7.95 billion (USD 2.53 billion) from H1 2015.
It also said client insolvency remained at very low levels – 1.38% in the 30-day index leading up to June 30, 2016. Nonetheless, the index is higher than the December 2015 insolvency rate of 0.02%.
*Translated by Gabriel Pomerancblum
PUBLICIDADE
