Banco do Brasil (BB) announced, this Monday (14), that it had recurring income of R$ 5.9 billion in the fourth quarter, an increase of 60.5% compared to the same period in 2020 and above average of market expectations, of R$ 4.81 billion.
In a separate document, BB predicted that it will have an adjusted profit of R$23 billion to R$26 billion in 2022. At the midpoint, it would mean an advance of about 17% over last year’s.
The bank also projects an 8% to 12% expansion of its loan portfolio this year and that its fee income will grow at the same pace as its operating expenses, that is, in the range of 4% to 8%.
BB also reported that the return on equity reached 16.3% from October to December, an increase of 5.5% in the annual comparison, on a recurring basis.
The bank ended 2021 with an expanded loan portfolio of R$874.9 billion, growth of 7.4% in 12 months.
The delinquency rate over 90 days was 1.75%, 0.07 percentage points lower compared to the immediately previous quarter, and a drop of 0.15% year on year.
The provision made by the state bank to face default losses was R$ 3.79 billion in the quarter, a 26.5% decrease against a year earlier.
Revenue from fees and services in the period totaled BRL 7.82 billion, an increase of 5.9% over the fourth quarter of 2021. At the other end, administrative expenses totaled BRL 8.5 billion, an increase of 7.6 billion % on a sequential basis and 4.8% in 12 months.
Source: CNN Brasil
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