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Banco do Brasil (BBAS3) recorded an adjusted net result of R $ 3,482 billion in the third quarter of this year, a drop of 23.3% compared to the same period of 2019. The result was impacted by the increase in its provisions for doubtful accounts PCLD), which grew by 40.5%, mainly due to “the establishment of prudential provisions in a preventive manner”.
“In view of the economic uncertainties caused by the pandemic, the bank conservatively established a prudent anticipation of loan provisions, in the amount of R $ 2 billion this quarter, despite the delinquency rate (operations overdue for more than 90 days) in September fell compared to the previous quarter and stood at 2.43%. Accumulated in 9 months, the prudential prepayment of provisions totaled R $ 6.0 billion, “the bank said in a report.
In relation to the second quarter, the profit advanced 5.2%. In this case, the figure was mainly influenced by the 6.8% reduction in the reserve for expanded credit risks, the positive performance of the income from services rendered, which grew 4.5%, due to cost control, with a reduction of 0.2% in administrative expenses, as well as the reduction of expenses with legal risk.
In the first nine months, BB’s adjusted net income was R $ 10,189 billion, a figure 22.9% lower than that observed a year earlier. The expanded loan portfolio grew 6.4% in the last 12 months and reached R $ 730.9 billion, with emphasis on the performances of the Private, MPME and Rural segments, which grew 6.2%, 17.9% and 5.3% respectively, in the middle of BB’s strategy of changing the portfolio mix.
BB draws attention to the positive performance of payroll loans, which grew 15.2% in 12 months.
PJ’s expanded loan portfolio grew 7.9% in the annual comparison and totaled R $ 274.6 billion. Notable for the growth of 17.9% of the MPME portfolio in 12 months. The rural portfolio increased 5.3%, totaling R $ 173 billion. There was an increase in agricultural cost lines (16%) and agricultural investment (28.9%).
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