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

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