BNDES Reports 28.4% Drop in Recurring Profit in Q1 2023

Written by Bruno Teles Publicado em 16/05/2023 at 17:57

FOTO: BNDES

Be the first to react!

According to the report, the bank recorded a recurring net income of R$1.7 billion for the period, representing a decrease of 28.4% compared to the same period last year.

The accounting profit, which includes non-recurring results, amounted to R$4 billion in the quarter, primarily driven by dividends received from Petrobras.

Regarding credit, BNDES’s expanded portfolio reached R$479 billion, showing an increase of 8.2% compared to Q1 2022. Total disbursements reached R$19.1 billion, representing a growth of 29.1% on the same basis of comparison.

ARTICLE CONTINUES BELOW

One positive point presented in the report was the reduction in BNDES’s delinquency over 90 days, which fell to 0.06% in Q1 2023.

In the last quarter of 2022, the index was at 0.13%, while in the first quarter of the previous year it was 0.21%.

However, the return on recurring equity (ROE) was 5.3% from January to March of this year, representing a decrease of 2.7 percentage points compared to the previous year, and 5.3 percentage points on a quarterly basis.

Even with the decline in recurring profit, BNDES remains committed to its mission of promoting the economic and social development of the country. The institution reported that it is working on new long-term financial solutions to help Brazilian companies overcome the challenges of the current economic situation.

BNDES Reports 28.4% Drop in Recurring Profit in Q1 2023

One positive point presented in the report was the reduction in BNDES’s delinquency over 90 days, which fell to 0.06% in Q1 2023.

BNDES Results – 1st Quarter of 2023

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

Júlia Pimentel, an 11-year-old from Minas Gerais, independently invented a new formula to calculate the square root using simple addition and multiplication, and her method was published in one of the most important mathematical scientific journals in Brazil.

Heir bought 23,000 degraded acres in the Scottish Highlands, fenced the area, planted nearly 1 million native trees, and transformed empty mountains into a forest officially recognized after meeting 15 evaluation criteria over 20 years.

Hidden beneath a small entrance in Namibia’s underground, the largest underground lake in the world is the size of 2 football fields, 264 meters deep, and even has rare animals that survive without sunlight.

Russia and India Lift 320-Ton Pressure Vessel into Kudankulam Nuclear Plant Reactor, Advancing Project That Has Already Prevented 112 Million Tons of CO2 Emissions

Sagrada Família Becomes World’s Tallest Church at 172.5 Meters, Surpassing German Church with Gaudí’s Design

Cuba Implements Sweeping Economic Reforms, Legalizes Holdings and Corporations, Allows Foreign Investment in Private Companies, and Lifts Employee Limits After Over 60 Years

8-Year-Old Entrepreneur from Brazil Builds Poultry Business with 80 Birds, Aspires to Study Agronomy at Leading University

Brazilian Student Wins Global Science Fair in the U.S. with Sound Wave Method to Alter Alzheimer’s-Linked Genes

BNDES Reports 28.4% Drop in Recurring Profit in Q1 2023

The National Bank for Economic and Social Development (BNDES) announced on this Tuesday (11) its results for the first quarter of 2023.

One positive point presented in the report was the reduction in BNDES’s delinquency over 90 days, which fell to 0.06% in Q1 2023.

BNDES Results – 1st Quarter of 2023

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

Júlia Pimentel, an 11-year-old from Minas Gerais, independently invented a new formula to calculate the square root using simple addition and multiplication, and her method was published in one of the most important mathematical scientific journals in Brazil.

Heir bought 23,000 degraded acres in the Scottish Highlands, fenced the area, planted nearly 1 million native trees, and transformed empty mountains into a forest officially recognized after meeting 15 evaluation criteria over 20 years.

Hidden beneath a small entrance in Namibia’s underground, the largest underground lake in the world is the size of 2 football fields, 264 meters deep, and even has rare animals that survive without sunlight.

Major Brazilian Supermarkets, Including Carrefour and Assaí, May Close Earlier to Prevent Price Increases

Coca-Cola Shuts Down 100-Year-Old Factory in the U.S., Impacting 85 Workers and Shaking Local Community with Historic Consequences

Bianca Andrade Invests $30 Million of Her Own Money in Boca Rosa, Launches Over 100 Products in a Year, Aiming for $400 Million by 2026

Belo Horizonte Becomes First Brazilian City to Fund Housing, Utilities for 100 Homeless Families with $900,000 Initiative

Brazilian Joins Homeownership Consortium, Faces Decade of Dual Payments Totaling $141,000, Surpassing Traditional Mortgage

Russia and India Lift 320-Ton Pressure Vessel into Kudankulam Nuclear Plant Reactor, Advancing Project That Has Already Prevented 112 Million Tons of CO2 Emissions

Sagrada Família Becomes World’s Tallest Church at 172.5 Meters, Surpassing German Church with Gaudí’s Design

Cuba Implements Sweeping Economic Reforms, Legalizes Holdings and Corporations, Allows Foreign Investment in Private Companies, and Lifts Employee Limits After Over 60 Years

8-Year-Old Entrepreneur from Brazil Builds Poultry Business with 80 Birds, Aspires to Study Agronomy at Leading University

Brazilian Student Wins Global Science Fair in the U.S. with Sound Wave Method to Alter Alzheimer’s-Linked Genes