Brazilian Development Bank year-to-date profit up

The bank saw USD 646 million in net profit in Q3, up 70% from Q3 2018. Year-to-date through September, net profit climbed 159% to USD 3.95 billion.

Agência Brasil

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

Vanderlei Almeida/AFP

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