The private entity Banco do Brasil recorded up to September net profit attributable of 5,777 million reais (930.7 million euros), which represents a drop of 46.4% compared with the result recorded in the same period of the previous year.
Net interest margin, once provisions for losses have been deducted, fell by 23.5%, to stand at 18,334 million reais (2,954 million euros). In contrast, income from items other than interest rose by 7.2%, reaching 41,876 million reais (6,746 million euros).
As for non-interest expenses, the total remained virtually unchanged at 59,634 million reais (9,607 million euros), after experiencing a slight reduction of 1.3%.
Between July and September, quarterly earnings decreased to 981.7 million reais (158.2 million euros), which represents a decline of 56.1%. In that same quarter, net interest less provisions and the rest of revenue stood at 3,269 million and 13,613 million reais (526.6 and 2,193 million euros), with a decrease of 57.2% in the first case and an increase of 2.8% in the second.
Banco do Brasil has revised downward its projections for 2026 and now expects an increase in net interest of between 2.5% and 4.5%, compared with the previous range of 7% to 11%. It also estimates that adjusted net income will be between 9,000 and 11,000 million reais (1,450 and 1,772 million euros), below the previous range of 18,000 to 22,000 million reais (2,900 and 3,544 million euros).
"Banco do Brasil continues to focus on recovering profitability, generating sustainable business, among other things, through the more than 80 companies that make up the conglomerate, and on making investments in segments with a better risk-return profile," the results report has explained.