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The Caixa Econômica Federal Announced This Thursday (11) the Results of the First Quarter of 2023. According to the Bank, the Recurring Net Profit Was R$ 1.9 Billion, a Decrease of 23.9% in Relation to the Same Period Last Year.
The Caixa’s credit portfolio showed a significant increase of 16.6% compared to the first quarter of 2022 and surpassed the mark of R$ 1 trillion. In addition, the bank’s financial margin grew 30.4%, totaling R$ 13.9 billion. The expansion was primarily influenced by the increase in revenue from credit operations and the issuance of derivative securities.
In the first quarter of 2023, the revenues from the credit portfolio totaled R$ 29.3 billion. Real estate credit for individuals and legal entities, sanitation and infrastructure, and agribusiness were the sectors that showed an increase compared to the same period last year.
The delinquency rate in the quarter rose 0.4 percentage points compared to the last 12 months, reaching 2.73%. However, Caixa reported that this increase was influenced by a specific client from the sanitation/infrastructure sector. Excluding this client, the delinquency rate would be 2.38%.
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The Bank’s Equity Reached R$ 124.5 Billion, an Increase of 5.4% Compared to the Last 12 Months.
The results presented by the Caixa Econômica Federal in the first quarter of 2023 show the bank’s solidity in relation to its assets and credit portfolio. Even in a challenging economic scenario, the institution continues to present positive numbers and generate results for its customers and shareholders.
It is worth noting that Caixa is an important agent of the Brazilian government in financing social and infrastructure programs. The institution plays a fundamental role in offering credit to the low-income population and is responsible, for example, for programs like Bolsa Família and Minha Casa Minha Vida.
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