Banco do Brasil (BB) had a recorded net profit record of R $ 37.9 billion in 2024, with growth of 6.6% compared to 2023. According to a balance released on Wednesday (19) at night by the financial institution, In the fourth quarter alone, the profit totaled R $ 9.6 billion, up 1.5% over the same period of the previous year.
According to BB, growth in profit can be explained by growth in the gross financial margin (+11.2%), service revenues (+4.9%) and the containment of administrative expenses, which grew 4 , 4% last year and rose less than inflation.
Credit card
Banco do Brasil’s expanded credit portfolio ended 2024 with a balance of R $ 1.3 trillion, up 15.3% compared to 2023. Highlights were operations with individuals, companies and agribusiness.
Regarding individuals, the expanded credit portfolio grew 7.3% last year, totaling R $ 336 billion. The expansion was influenced by the payroll credit portfolio, which grew 9.8% last year. The credit portfolio for legal entities totaled R $ 461.1 billion, up 18% in 12 months.
The expanded portfolio of agribusiness totaled R $ 397.7 billion, beating the record recorded in 2023. The growth totaled 2.9% over the previous quarter and 11.9% in 12 months. BB maintained the leadership in the credit to the segment.
The sustainable business portfolio, which encompasses loans to projects with positive social and environmental impact, added R $ 386.7 billion last year, up 12.7% in 12 months. The amount corresponds to 30% of the bank’s total credit.
Default
The default index over 90 days of bank credit operations was 3.32% in December 2024, high compared to the 2.92% recorded at the end of 2023. According to BB, the elevation was mainly due to the segment of Agribusiness, affected by climate disasters last year.
With higher default, the expense with the provision (reserve) for dubious settlement credits rose 16.9% last year.
Revenues and expenses
Revenues with service provision grew 4.9% in 2024, totaling R $ 35.5 billion. The highlights were the consortium segments (+17.4%); Capital market lace (+16.7%); Fund administration (+11.6%); and insurance, social security and capitalization (+10.4%).
Administrative expenses totaled R $ 37 billion, up 4.4% last year, below the accumulated inflation last year and within the bank projections, which ranged from 5% to 7%.
BB also released projections for 2025. For this year, the institution foresees adjusted net income between R $ 37 billion and R $ 41 billion, expansion of 5.5% to 9.5% in the credit portfolio. Revenues with services will be between R $ 34.5 billion and R $ 36.5 billion; and administrative spending, between R $ 38.5 billion and R $ 40 billion.
