Caixa Econômica Federal recorded net income of R$ 3 billion in the first quarter of this year, a drop of 3.8% compared to the same period last year, when profit was R$ 3.16 billion. The information was presented in the balance sheet of the public bank released this Thursday (12).
Net income is the overall result of the company, and basically represents the difference between net income and all costs and expenses over a given period.
The drop in profit for the quarter is related to the provision for credit operations linked to the National Support Program for Micro and Small Businesses (Pronampe) and the Investment Guarantee Fund (FGI), of the National Bank for Economic and Social Development (BNDES). ). By the end of the year, the bank expects to account for the funds provisioned with the execution of losses through the guarantee funds.
“Caixa’s balance sheet is being penalized by provisions and losses, which will be recovered when we execute the guarantees of the FGO guarantee funds, by Banco do Brasil, for Pronampe. And the FGI, for BNDES, which are the funds that give most of that supply back”, explained Pedro Guimarães, president of Caixa.
The bank’s loan portfolio in the quarter stood at R$889 billion, an increase of 11.2% compared to last year. It is the largest credit portfolio among the country’s financial institutions.
real estate credit
Leader in the real estate credit market in Brazil, Caixa ended March with R$ 34.4 billion in financing, an increase of almost 18% compared to the first three months of last year.
The total balance of Caixa’s real estate loan portfolio is R$ 570.5 billion, up 10.1% over the first quarter of last year.
The number of Caixa customers ended the quarter at 148.4 million. Since the end of 2018, when the number of public bank customers was 92.7 million, there has been an increase of around 55 million new customers in about four years. There are currently around 221.6 million active accounts at the bank, according to the quarterly balance sheet.
agribusiness
Caixa also highlighted the strong expansion in agribusiness financing in the country. The bank moved from eighth to second place in the sector’s credit market. BRL 6.7 billion in credit was granted in the first quarter, an increase of 204.6% in contracts, compared to the same period in 2021, and of 142.9% in the balance of the financing portfolio.
“We are the second largest bank in agro. In several of the fairs we have participated in, we were the largest bank at the fair, such as, for example, at Agrishow, in Ribeirão Preto. The largest origination was from Caixa Econômica Federal, with R$ 3 billion in four days, in a single fair”, highlighted Pedro Guimarães.
microcredit
Caixa also reported that it has already granted R$ 1.2 billion in microcredit, with around 1.7 million contracts, leading the segment in the country. Around 370 thousand contracts involved beneficiaries of the Auxílio Brasil program.
