BNDES Reports 28.4% Drop in Recurring Profit in Q1 2023

Written by Bruno Teles

Published on 16/05/2023 at 17:57

FOTO: BNDES

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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.

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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

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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

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

Under nearly 2 kilometers of ice in Antarctica, scientists have discovered an ancient landscape sculpted by rivers up to 60 million years ago, the size of Wales, preserved as a time capsule that could help predict the advance of ice towards the ocean.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

SpaceX will dock a $843 million vehicle to the International Space Station to push a nearly 420-ton laboratory against the atmosphere and make the debris fall in a controlled manner into the ocean.

For the economist José Kobori, the USA gained a trump card to “blackmail” Brazil and undermine China’s influence by classifying the PCC and Comando Vermelho as terrorists, increasing the power to pressure companies, banks, and even Pix.

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