Caixa’s profit drops 43% and totals R$ 9.8 billion in 2022 – 03/22/2023 – Market

Caixa Econômica Federal had a net profit of BRL 9.8 billion in 2022, which corresponds to a drop of 43.4% compared to the previous year, according to a balance sheet released this Wednesday (22).

Considering only the fourth quarter of 2022, the public bank’s profit was BRL 2.2 billion, down 31.2% compared to the same period of 2021.

In the balance of results, Caixa does not inform the reasons that led to the sharp drop in profit for the period.

The bank’s credit portfolio ended last December with a balance of R$ 1 trillion, a growth of 16.7% compared to December 2021. Throughout 2022, Caixa granted R$ 509.8 billion in credit, growth of 16.6% compared to 2021.

Among the types of credit that had the highest growth rates, the highlight was the mortgage loan portfolio, which grew 13.6% last year and reached a balance of R$ 637.9 billion.

In the individual segment, growth in 12 months was 259.1%, to R$ 32.1 billion. In payroll loans, Caixa increased 22.8%, to R$ 102.5 billion, while in the credit portfolio focused on agribusiness, the increase was 167.5%, to R$ 44.1 billion.

The bank’s default rate ended the year at 2.09%, compared to 1.95% in December 2021.