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%.

ARTICLE CONTINUES BELOW

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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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.

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.

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