Caixa has a profit of R$ 1.9 billion in the 1st quarter, down 23.9%| Photo: Jonathan Campos/Gazeta do Povo

Caixa Econômica Federal informed this Thursday (11) that the profit achieved in the first quarter of this year was R$1.9 billion. The result represents a reduction of 23.9% compared to that presented in the first quarter of 2022, and 5.3% compared to the immediately previous quarter. The balance refers to the first three months of Rita Serrano’s term, appointed by President Luiz Inácio Lula da Silva (PT).

Despite the drop in profit, the bank showed an increase of 30.4%, compared to the same period last year, in Caixa’s financial margin, reaching R$ 13.9 billion. The highlight was income from the loan portfolio, which increased by 41.6%, and operations in Securities and Securities (TVM) and derivatives, which increased by 38.8%.

Caixa’s assets closed the first quarter at R$1.652 trillion, up 11.1% year-on-year. In addition to the credit portfolio, which reached BRL 1.036 trillion (up 16.6%), the data includes the securities and derivatives portfolio, which reached BRL 249.4 billion, a decrease of 1.4 % in a year. The numbers do not include funds managed by the bank, such as the Fundo de Garantia do Tempo de Serviço (FGTS). With these, the total rises to R$ 2.989 trillion, up 8.1% in one year.