BNDES reports net income of R$ 9.6 billion in the 3rd quarter of 2022

The National Development Bank (BNDES) recorded a net profit of R$ 9.6 billion in the third quarter of 2022. The results were released this Thursday (10), at a press conference at the bank’s headquarters in Rio de Janeiro.

According to the Bank, the result represents an increase of 76% compared to the same period in 2021. In the accumulated period from January to September of this year, BNDES recorded a profit of R$ 34.2 billion. This represents an increase of 29.5% compared to the same period last year.

“The performance was mainly influenced by revenue from dividends/JCP, R$ 7.0 billion, highlighting Petrobras.”, pointed out the Bank. BNDES has an investment portfolio with several assets, with Petrobras among them.

The assets of the BNDES System totaled R$718.9 billion in September 2022, a reduction of 2% in relation to the previous quarter, ended in June. The decline was mainly impacted by payments to the National Treasury, of R$12.6 billion, of which R$10 billion were early settlements and R$2.6 billion were ordinary payments.

During the press conference, the president of BNDES, Gustavo Montezano, was asked about the Bank’s returns to the National Treasury. According to the president, the schedule set up by the Bank was “conservative”.

“We put BRL 45 billion this year and BRL 24 billion next year so that this would not affect the bank’s strategic planning at all. Everything that we showed here regarding the future portfolio, expectations, is maintained in this premise. If, over the next year, there is a liquidity event that surprises positively, the bank will have to anticipate it because it is TCU’s premise that we do not make use of irregular resources,” said Montezano.

government transition

President Gustavo Montezano was asked about the transition process of the elected government, and stated that the Bank was notified by the Ministry of Economy. According to Montezano, the internal team is already prepared for the transition.

“As far as it depends on us, the board, the board, the technical staff, we are fully available and we want to be as collaborative as possible so that the bank’s next management has all the necessary tools to continue in whatever they deem appropriate.”, highlighted.

Regarding continuing at the Bank in a future government, the president stated that the “cycle at the bank ends now”, and added that he is “very proud” of what he left as a legacy.

“If you go back to 2019, we had a bank with a reputational questioning, there was a strategic questioning of existence and a certain managerial setback due to having a lot of management change in the short term.”, said Montezano. The president said he intends to make the transition “in the best possible way, at the level that BNDES deserves.”