The National Bank for Economic and Social Development (BNDES) had a net profit of R$ 9.6 billion in the third quarter of this year, according to a balance sheet released today (10) by the institution’s board.
The financial result was 15% lower than in the same period last year and 17.9% lower than in the second quarter of this year, according to a comparison presented by the bank.
By excluding sales operations from the equity portfolio from this comparison, however, BNDES calculates that the result for the third quarter of 2022 was 76% above the same period in 2021, which reflects an increase in the financial intermediation product.
If considering the accumulated for the year 2022, since January, the BNDES’ profit is R$ 34.2 billion.
BNDES’ performance in the quarter was mainly influenced by dividend income, which reached R$ 7 billion, especially those paid by Petrobras. The state-owned company corresponds to 48% of the bank’s stock portfolio, which totals R$ 64.8 billion.
disbursements
Total disbursements in the amount of BRL 29.4 billion were made to the bank’s customers, which represents an increase of 35% compared to the same months in 2021. Compared to April, May and June 2022, this amount corresponds to an increase of 58%.
The infrastructure sector received 39% of disbursements in the quarter, totaling R$ 11.5 billion. The BNDES’ finance director, Lourenço Tigre, attributed the sector’s leadership among disbursements to new products offered by the bank and to the factory of privatization and concession projects.
Agriculture had the second largest weight among disbursements, with R$ 10.3 billion in approved operations. Industry (R$4.3 billion) and Commerce and Services (R$3.4 billion) complete the portfolio.
Since January, BNDES has already disbursed R$62.9 billion for approved projects, and the bank’s projection is that the total for 2022 could reach R$90 billion, which would be the highest since 2015.
The balance presented also shows that the BNDES credit portfolio increased by 3.8% compared to the third quarter of 2021 and totals R$ 463.2 billion. Payments to the National Treasury made in the third quarter totaled R$ 12.6 billion.
Transition
The president of BNDES, Gustavo Montezano, stated that the bank is already available to the team of the next government to collaborate with the transition and said he is rooting for the success of the next administration.
“We have already been notified by the Economy to prepare an internal team to be available for the transition. We are fully available and wanting to be as collaborative as possible”, he said.
The president of the public bank also said that the BNDES is ready to resume the management of the Amazon Fund, but has not yet received a formal communication in this regard from the Ministry of the Environment or the governments of Norway and Germany, which are shareholders of the fund.
In his last press conference to present the BNDES’ results, Montezano took stock of his management at the head of the bank and assessed that he managed to overcome a moment of reputational crisis and strategic questioning of the very existence of the BNDES.
“The bank is being delivered with a portfolio of projects, a strategy, comfortable capital and cash liquidity, so that the next management can do an even better job than us. that happens too.”
