{"id":46450,"date":"2013-11-14T16:45:00","date_gmt":"2013-11-14T18:45:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/development-bank-profit-up-3-5\/"},"modified":"2019-06-30T13:09:11","modified_gmt":"2019-06-30T16:09:11","slug":"development-bank-profit-up-3-5","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/development-bank-profit-up-3-5\/","title":{"rendered":"Development Bank profit up 3.5%"},"content":{"rendered":"<p>Rio de Janeiro &ndash; The Brazilian Development Bank (BNDES, in the Portuguese acronym) posted a net income of R$ 4.886 billion (US$ 2.093 billion) year-to-date through September this year, up 3.5% from R$ 4.722 billion (US$ 2,022 billion) in the same period in 2012. The figures have been disclosed this Thursday (14th) by the institution. <\/p>\n<p>The BNDES press office has informed that results originating from financing to investment projects were the main contributing factor to the institution&rsquo;s performance during the period. <\/p>\n<p>&ldquo;The expressive performance came amidst a process of reduction of spreads [the different between banks&rsquo; fundraising costs and the actual interest rate charged from loan-takers] charged by the BNDES on its financing lines, in keeping with federal government actions to stimulate productive investment and increase credit supply in a global scenario of uncertainty,&rdquo; according to the bank.<\/p>\n<p>The result per segment before discounting expenses was slightly higher than R$ 10 billion (US$ 4.28 billion). The fixed income segment accounted for 74,3% of the total amount, at R$ 7.428 billion (US$ 3,182 billion), up 8.7% from year-to-date through September 2012. <\/p>\n<p>The insolvency rate as of September 30, 2013 was 0.02%. It is the lowest rate of the last five years, &ldquo;despite uncertainties in the financial and capitals market,&rdquo; and remains the lowest in Brazil&rsquo;s financial sector, whose average rate was 3.3% in September 2013, according to Central Bank figures. According to BNDES, &ldquo;the result reflects the solidity of the bank&rsquo;s credit portfolio and disbursements.&rdquo; As of December 2012, BNDES&rsquo; insolvency rate was 0.06%.<\/p>\n<p>The BNDES System had R$ 60.33 billion (US$ 25.8 billion) in net assets in September, with R$ 102.86 billion (US$ 40 billion) in reference assets. The amount exceeds the R$ 96.02 billion (US$ 41.1 billion) from June 30 this year. BNDES technicians believe the increased net worth stems from the recovery of market value of stakes owned in subsidiary BNDES Participa&ccedil;&otilde;es (BNDESPar). The BNDES System had R$ 74.2 billion (US$ 31.7 billion) in total assets in September 30, 2013, up 2.2% from June 2013. <\/p>\n<p><strong>*Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-181403\">Antonio Cruz\/ABr<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Brazil\u2019s state-owned BNDES posted US$ 2.093 billion in net income year-to-date through September. Insolvency rate is the lowest in five years.<\/p>\n","protected":false},"author":2315,"featured_media":181403,"comment_status":"closed","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":[],"class_list":{"0":"post-46450","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"Brazil\u2019s state-owned BNDES posted US$ 2.093 billion in net income year-to-date through September. Insolvency rate is the lowest in five years.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/46450","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\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=46450"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/46450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/181403"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=46450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=46450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=46450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}