Banrisul’s net profit grows 29.8% in the 1st quarter of the year

Banrisul achieved net income of R$213 million in the first quarter of 2023, 29.8% higher than the result for the same period of 2022. The result mainly reflects the growth in the financial margin, the increase in the loan portfolio and the increase in revenues from banking services and fees.

Banrisul’s credit portfolio recorded, in March 2023, the value of R% 50.1 billion, which represents an increase of 18.2% in 12 months or R$ 7.7 billion compared to March 2022. The highlights in the growth of the portfolio were agribusiness, commercial credit for individuals, foreign trade and real estate financing.

Individual commercial credit reached R$ 25.7 billion at the end of March 2023, of which 78.1% are payroll-deductible loans. Corporate commercial credit operations totaled BRL 8.8 billion at the end of the first quarter of 2023, of which 78.2% are working capital operations and, of these, 50.4% were guaranteed by guarantee funds .

In March 2023, the rural credit portfolio reached BRL 8.5 billion, growth of 69% in 12 months. Regarding the 2022/2023 Crop Plan, 88.3% of the total resources made available, of R$ 7 billion, have already been contracted by the end of March 2023. The result demonstrates that agribusiness is one of Banrisul’s priorities, which has been consolidating itself as one of the main financial institutions that support the activity in Rio Grande do Sul. The bank maintains its focus on portfolio growth with small and medium-sized producers through lines of credit with its own resources, funding from the Financial System, onlending of BNDES lines and funds equalized by the National Treasury Secretariat.

At the end of March 2023, Banrisul had a base of 1.3 million Mastercard and Visa credit cards. In the first quarter of the year, 24.6 million transactions were carried out, which enabled financial transactions of R$ 2.4 billion, respectively 12.4% and 18.8% higher than the same period in 2022. Credit revenues and fees with credit cards and BNDES cards totaled R$149.8 million in the first quarter of 2023.