Caixa Econômica Federal reported today (24) that it had a net profit of BRL 17.3 billion in 2021, which represents a growth of 31.1% compared to 2020. In the fourth quarter of last year, the bank’s profit totaled BRL $3.2 billion, up 0.3% from the third quarter.
In 2021, the expanded loan portfolio recorded a balance of R$867.6 billion, a growth of 10.2% compared to 2020. According to the bank’s balance sheet, in the fourth quarter of 2021, R$114.7 billion in credit were granted , an increase of 5.2% compared to the same period in 2020.
According to Caixa, in the fourth quarter of 2021, the financial margin reached R$ 11.5 billion. The value corresponds to an increase of 8.5% compared to the same period in 2020. The growth is mainly due to the 27.2% increase in income from securities operations and 16.2% in income from credit operations.
The bank also said that, in the same period, revenues from the loan portfolio totaled BRL 19.8 billion, an increase of 15.8% compared to the fourth quarter of 2020.
The highlight in income from credit operations is the operations focused on agribusiness, which grew 187.9% last year. Sanitation and infrastructure operations increased 43.5%; credit to legal entities, 21.8%, and credit to individuals, 14.4%.
Bad debt closed the fourth quarter at 1.95%, a reduction of 0.21 percentage point compared to the third quarter of 2021.
Financing
Regarding financing for home ownership, Caixa reported that, in 2021, R$ 140.6 billion were contracted, considering the resources of the Brazilian Savings and Loan System (SBPE) and the Severance Indemnity Fund. (FGTS). This contract is 20.8% higher than in 2020. In the fourth quarter, the balance was R$557.6 billion, including Construcard.
“The bank remains the largest lender of home ownership in the country, with a 66.5% market share. This result is a direct result of the actions of the last two years, which include rate reductions, product creation and implementation of the digital financing journey.
She also said that she paid BRL 250.4 billion in continuous and emergency social benefits, which include the Bolsa Família, Seguro-Desemprego, Abono Salarial programs, social security benefits from the National Institute of Social Security (INSS) and other continued benefits from income transfer.
The collection with the lotteries closed 2021 at R$ 16.9 billion in all modalities, with transfer of R$ 7.5 billion in social benefits provided for by law.
Caixa highlighted in its balance sheet the extinction of Caixa Participações (CaixaPar), approved at the meeting on December 29, 2021.
“With the merger of the remaining equity installments referring to the totality of the subsidiary’s shares, the merger was carried out at the book value according to the balance sheet, determined on June 30, 2021, having as shareholders’ equity the amount of R$ 3.8 billion, duly audited and ratified by the Accounting Appraisal Report by a specialized company”, he informed.
