Banco do Brasil had an adjusted net profit of R$20.685 billion in 2025, drop of 45.4% compared to the previous year, according to the balance released on Wednesday night (11) by the institution. New accounting rules and an increase in defaults put pressure on the result.
From October to December, BB made a profit of R$5.742 billion, a decrease of 47.2% compared to the last quarter of 2024. In relation to the third quarter, however, profit rose 51.7%.
In a note, the BB highlighted that revenue generation is increasingdespite the pressures caused by default. According to the bank, financial revenues from credit to individuals and the Worker’s Credit Program, which unifies the contracting payroll loans for workers from private companieshave helped the bank.
“R$13 billion were disbursed in worker credit, a demonstration that reaffirms our declared expectation that we would grow in lines with better risk-adjusted returns”, highlighted the president of Banco do Brasil, Tarciana Medeiros.
In January last year, it came into force a resolution from the National Monetary Council (CMN) what changed the accounting of financial institutions and interfered in the results. Approved in 2021, the new rules only came into force in 2025.
The resolution changes the model from provisions (financial reserves to cover possible defaults) to expected lossmade based on estimates. This affected the way some expenses and income are recognized, causing the bank to no longer recognize R$1 billion in credit income.
Default
The default rate, which considers delays of more than 90 days, rose from 3.16% in December 2024 to 5.17% at the end of 2025. The result is mainly influenced by agribusiness, a segment where the bank leads in granting credit, and in the credit card line.
Default rates in the agribusiness credit portfolio ended last year at 6.09%, an increase of 1.25 percentage points in the last quarter of 2025.
Default rates in the individual portfolio ended the period at 6.56%, an increase of 0.55 percentage points.
Credit growth
Even with the increase in interest rates, the BB lent more in 2025, driven mainly by credit to individuals. The expanded credit portfolio ended last year at R$1.296 trillion, an increase of 1.4% in the last quarter and 2.5% in the year.
In the distribution by credit segments, the results were as follows:
- Individual: R$356.96 billion at the end of December, an increase of 1.8% in the quarter and 7.6% in one year, with emphasis on the new type of credit granted for CLT, aimed at workers in the private sector, with R$14.3 billion loaned.
- Legal Entity: R$455.15 billion, an increase of 0.5% in the quarter and 0.6% in one year. The portfolio for large companies totaled R$260.4 billion, an increase of 4.3% in 12 months, while the portfolio for micro, small and medium-sized companies totaled R$115.2 billion, a decrease of 7.9% last year.
- Agribusiness: R$406.13 billion, an increase of 1.8% in the quarter and 2.1% in one year. In the six months of the 2025/2026 Harvest Plan, Banco do Brasil provided R$103.9 billion in credit to agribusiness, in addition to R$12.3 billion in lines for the agribusiness value chain.
- Sustainable Credit Portfolio: R$415.1 billion, financing activities that generate positive social and environmental impacts, with an increase of 7.3% in 12 months. This portfolio corresponds to 32% of the bank’s total credit.
Income and expenses
Revenues from service provision totaled R$34.813 billion in 2025. The value represents a drop of 1.9% compared to last year.
According to BB, the drop was mitigated by growth in revenues from fund management lines (+13.5%), consortium management fees (+19.3%) and capital market income (+7.9%).
Administrative expenses totaled R$34.813 billion in 2025, an increase of 5.1% compared to 2024. BB justified the increase based on the salary adjustment and investments in technology and cybersecurity.
Projections for 2026
BB released projections for 2026. After the reduction in profit in 2025, the bank predicts a recovery in earnings this year.
The numbers are as follows:
- Adjusted net profit: R$22 billion to R$26 billion;
- Credit portfolio growth: from 0.5% to 4.5%; with an increase of 6% to 10% for individuals; drop from 2% to increase of 2% for agribusiness; and a drop of 3% to an increase of 1% for companies;
- Revenue from service provision: growth of 2% to 6%;
- Administrative expenses: growth of 5% to 9%;
- Cost of credit (expected losses with default and other risks): R$53 billion to R$58 billion;
“We managed to adapt to the scenario with transparency and a lot of dedication from our employees so that we have a 2026 with a return to profitability levels the size of BB. Our guidance shows this and our results indicate that we are showing signs of inflection, with profits of R$ 5.7 billion, a growth of 51.7% compared to the previous quarter”, stated Tarciana Medeiros.
