Caixa Econômica Federal's Net Profit Falls Nearly 24% in First Quarter of 2023, but Loan Portfolio Exceeds R$ 1 Trillion Mark

Caixa Econômica Federal’s Net Profit Falls Nearly 24% in First Quarter of 2023, but Loan Portfolio Exceeds R$ 1 Trillion Mark

Written by Bruno Teles

Published on 12/05/2023 at 14:08

foto: Caixa Econômica Federal

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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.

Caixa Econômica Federal’s Net Profit Falls Nearly 24% in First Quarter of 2023, but Loan Portfolio Exceeds R$ 1 Trillion Mark

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 Bank’s Equity Reached R$ 124.5 Billion, an Increase of 5.4% Compared to the Last 12 Months.

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Guava producers in Rio Grande do Sul are discarding tons of fruit because the buying companies have simply stopped accepting the production, even with one of the best harvests in recent years, while consumers are paying increasingly higher prices.

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Caixa Econômica Federal’s Net Profit Falls Nearly 24% in First Quarter of 2023, but Loan Portfolio Exceeds R$ 1 Trillion Mark

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 Bank’s Equity Reached R$ 124.5 Billion, an Increase of 5.4% Compared to the Last 12 Months.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

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Millions of Brazilians pay Income Tax without knowing that they can divert up to 6% of the amount to social and cultural projects instead of letting the government decide alone what to do with the money.

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A 3 billion dollar ship was built to do what physics said was impossible and can pull entire oil platforms out of the ocean in just 10 seconds with surgical precision.

Guava producers in Rio Grande do Sul are discarding tons of fruit because the buying companies have simply stopped accepting the production, even with one of the best harvests in recent years, while consumers are paying increasingly higher prices.

Scientists opened a 300-year-old mummy in Austria and were surprised to discover that the body had been embalmed using such a bizarre method that there is no other recorded case like it in the history of humanity.

MODEC opens offshore position for those who want to work on board in RJ as a Nurse.

Sheikh Mohamed bin Rashid Al Maktoum of Dubai transformed a Boeing 747 into a flying mansion with a suite, shower, dining room for 26 people, and gold faucets, but the most absurd detail is in the cockpit, where even the throttle levers and brakes are coated in gold.