Banco do Brasil has adjusted net income of R$ 8.79 billion in the 2nd quarter, up 11.7%

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Result is in relation to the same period of 2022. Analysts expected, on average, profit of BRL 8.65 billion. Banco do Brasil headquarters, in Brasília Adriano Machado/Reuters Banco do Brasil recorded an adjusted net profit of R$ 8.79 billion in the second quarter, an increase of 11.7% compared to the same period last year, informed the institution this Wednesday (9). The accounting profit was BRL 8.35 billion, an increase of 8.7% in the same comparison. Analysts on average had expected a profit of 8.65 billion reais for the quarter, based on data collected by Refinitiv. Delinquency over 90 days at Banco do Brasil was 2.73%, compared to 2.62% in the first quarter and 2% in the second quarter of the previous year. The expanded portfolio of provisions for loan losses (expanded PCLD) was BRL 7.18 billion, against BRL 5.86 billion in the first quarter of this year. Review of projections Banco do Brasil raised the growth projection of its loan portfolio in 2023 to a range of 9% to 13%, compared to 8% to 12% previously. In addition, it also increased the expectation of high this year in the gross financial margin to between 22% to 26%, against 17% to 21% before. The bank, however, worsened the estimate for service revenues, and now projects an increase of 4% to 8% in 2023, against 7% to 11% previously, in addition to raising the perspective for the expanded PCLD to R$ 23 billion to BRL 27 billion, against the previous projection of BRL 19 billion to BRL 23 billion.

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