São Paulo – The bank ABC Brasil posted a net profit of R$ 268.3 million (US$ 110.3 million) in 2013, up 18.4% from 2012. In quarter four (Q4) last year, the institution posted a profit of R$ 76.2 million (US$ 31.3 million), up 27.8% from Q4 2012, and up 13.1% from Q3 2013. The information was released by the bank this Wednesday (5th).<\/p>\n
The main stakeholder in ABC Brasil is the Arab Banking Corporation (ABC), a financial institution based in Bahrain. <\/p>\n
The annualized return on equity (Aroe), an indicator of profitability, stood at 14.9% in 2013, up 0.6 percentage point from 2012. In Q4, the index stood at 16.1%, up 1.3 percentage point from Q3 and 1.7 percentage point from Q4 2012. <\/p>\n
The bank’ expanded credit portfolio stood at R$ 17.782 billion (US$ 7.314 billion) by the end of the year. The sum comprises the credit portfolio, guarantees offered, and private bonds. The sum represents a 16.1% increase year-on-year, and a 5.4% increase quarter-on-quarter. <\/p>\n
In the “Corporate" segment, comprising medium-sized companies in the revenue range above R$ 400 million (US$ 164.5 million), the bank saw a 17.4% increase year-on-year and a 5.1% increase quarter-on-quarter. In the “Companies” segment, comprising medium-sized companies in the revenue range between R$ 30 million and R$ 400 million (US$ 12 million and US$ 164.5 million), ABC Brasil saw a 8.1% increase year-on-year and a 7.5% increase quarter-on-quarter. <\/p>\n
According to a press release from the bank, savings deposits remain the bank’s flagship, with access to the domestic and external markets in competitive conditions, with comfortable deadlines in relation to the profile of its assets. <\/p>\n
Operating in Brazil since 1989, ABC is a multiple bank specializing in credit and services to medium-to-large companies. <\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n