Rio de Janeiro – The Brazilian Development Bank (BNDES) posted BRL 2.7 billion (USD 646.8 million) in net profit in Q3 2019. The result matches that of Q2 but is up nearly 70% over Q3 2018.
Year-to-date through September, BNDES saw BRL 16.5 billion (USD 3.95 billion) in net profit, up 159.5% from a year ago.
Driven by disposal of shares, the bank’s equity position climbed 155.8% to BRL 14.7 billion (USD 3.5 billion).
Ninety-day delinquency eased from 1.67% to 0.08%, lower than the National Financial System’s 3.05% average.
Translated by Gabriel Pomerancblum