S\u00e3o Paulo \u2013 The Brazilian Development Bank (BNDES) saw its net profit go up 453.4% year-on-year in Q1 to BRL 2.06 billion.<\/p>\n
It said this Monday (14) that the result was driven by the positive effects of a reversal of expenditure on credit risk provisions and by improved equity holding results.<\/p>\n
The former factor alone \u2013 last year the bank had to earmark credit risk provisions, which wasn\u2019t the case this year \u2013 led to a BRL 2.2 billion cut in expenses.<\/p>\n
BNDES held BRL 860 billion in assets by March 31, 2018, which meant a 0.9% and BRL 7.4 billion increase during Q1. The bank\u2019s credit portfolio and loans reached BRL 527.9 billion. Delinquency saw a slight increment.<\/p>\n
Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Brazil\u2019s BNDES saw BRL 2.06 billion in net profit from January to March. Numbers were driven by a reversal of expenditure on credit risk provisions and by equity holding results.<\/p>\n","protected":false},"author":2316,"featured_media":175116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[546,2219,2365],"class_list":{"0":"post-175120","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bndes","9":"tag-brazilian-development-bank","10":"tag-net-profit"},"wps_subtitle":"Brazil\u2019s BNDES saw BRL 2.06 billion in net profit from January to March. Numbers were driven by a reversal of expenditure on credit risk provisions and by equity holding results. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/175120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=175120"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/175120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/175116"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=175120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=175120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=175120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}