Rio de Janeiro – The Brazilian Development Bank (BNDES) ended the year’s first six months with a net profit of BRL 1.34 billion (USD 430 million), reversing the BRL 2.17 billion (USD 690 million) loss seen in the same period of 2016.
The information was made public this Monday (14) by a BNDES statement and shows a lower delinquency rate from January to June of this year, among other factors. According to the bank, the gross balance with equity holdings – which went from a loss of BRL 4.92 billion (USD 1.57 billion) from January to June of 2016 to earnings of BRL 1.42 billion (USD 450 million) in the same period of 2017 – positively impacted the balance sheet.
BNDES also announced a reduction of 4.6% in its credit portfolio and net disbursements in the first six months to BRL 27.83 billion (USD 8.85 billion). This occurred because liquidations of operations surpassed disbursements in the period and because of the increase of BRL 4.16 billion (USD 1.32 billion) in the provision for loan risks.
*Translated by Sérgio Kakitani
