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Caixa Economica’S Remarkable Quarter: A Dive Into Their Financial Success
(MENAFN- The Rio Times) In Q2, Brazil's Caixa Economica federal saw a 27.3% jump in net profit, reaching R$ 3.287 billion ($598 million). This uplift reflects widespread growth across the bank's operations.
The total credit portfolio of this important public bank stood impressively at R$ 1.175 trillion ($214 billion) in June, marking a 10.6% year-over-year increase.
Specifically, the housing credit portfolio, a crucial part of the bank's lending, surged by 14.8% to R$ 783.6 billion ($142.6 billion).
The financial margin reached R$ 15.81 billion ($2.9 billion), up 4.1% from the previous year. This gain mainly resulted from a sharp 17.7% decrease in expenses for financial institution resources.
Service and banking fee revenues climbed to R$ 6.755 billion ($1.2 billion), up 6.5% from last year.
These increases came from various sectors: insurance products rose by 15.2%, credit services by 10.8%, card revenues by 9%, and investment funds by 6.6%. Administrative expenses climbed to R$ 10.769 billion ($1.9 billion), a 9.3% rise.
Within this, personnel expenses grew by 7.1% to R$ 7.3 billion ($1.3 billion). Other administrative costs advanced by 14.1% to R$ 3.5 billion ($636 million).
The return on equity (ROE) improved to 9.54%, up by 1.78 percentage points from the previous year.
The bank's equity was reported at R$ 135.524 billion ($24.6 billion), an 11.2% increase. Moreover, total assets expanded to R$ 1.911 trillion ($347.4 billion).
Through these achievements, Caixa Economica Federal significantly bolsters Brazil's banking sector, providing vital support to housing and other economic areas.
The total credit portfolio of this important public bank stood impressively at R$ 1.175 trillion ($214 billion) in June, marking a 10.6% year-over-year increase.
Specifically, the housing credit portfolio, a crucial part of the bank's lending, surged by 14.8% to R$ 783.6 billion ($142.6 billion).
The financial margin reached R$ 15.81 billion ($2.9 billion), up 4.1% from the previous year. This gain mainly resulted from a sharp 17.7% decrease in expenses for financial institution resources.
Service and banking fee revenues climbed to R$ 6.755 billion ($1.2 billion), up 6.5% from last year.
These increases came from various sectors: insurance products rose by 15.2%, credit services by 10.8%, card revenues by 9%, and investment funds by 6.6%. Administrative expenses climbed to R$ 10.769 billion ($1.9 billion), a 9.3% rise.
Within this, personnel expenses grew by 7.1% to R$ 7.3 billion ($1.3 billion). Other administrative costs advanced by 14.1% to R$ 3.5 billion ($636 million).
The return on equity (ROE) improved to 9.54%, up by 1.78 percentage points from the previous year.
The bank's equity was reported at R$ 135.524 billion ($24.6 billion), an 11.2% increase. Moreover, total assets expanded to R$ 1.911 trillion ($347.4 billion).
Through these achievements, Caixa Economica Federal significantly bolsters Brazil's banking sector, providing vital support to housing and other economic areas.
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