As a general result, Caixa Econômica Federal posted net income of US$ 1.01 billion in the second quarter, 21.6% higher than a year earlier, of US$ 832m. Compared to the immediately preceding three months, it was a growth of 7.4%.
The bank's second quarter results were boosted, according to a report accompanying its financial statements, by a 12.4% increase in net interest income, stable service revenues and a slight reduction in administrative expenses.
Caixa's net income for the semester totaled US$ 1.95 billion, 22.2% higher than the same period last year, of US$ 1.59 billion. "The result achieved in the semester demonstrates that the company's performance is anchored in a solid base of recurring profit generation, essentially due to its robust operating capacity," says the bank in the report.
Caixa's loan portfolio totaled US$ 164 billion in the second quarter, down 0.5% from the first quarter and 1.9% in one year. Both the individual and corporate segments shrank in the period, but the highlight was the corporate segment.
Caixa ended June with US$ 315 billion in total assets, up 3.3% in one year. Compared to March, the increase is 1.6%. Its shareholders' equity totaled US$ 20.78 billion in the second quarter, an increase of 9.6% in one year and 1.0% in the quarterly comparison.
Return (ROE) stood at 15.63% at the end of June, down 0.23 percentage points from March and 2.25 pp over 12 months.
Caixa also informs that the balance sheet reservation was lifted in the second quarter due to Federal Police investigations involving the public bank, as anticipated by the Broadcast Column of Grupo Estado's real-time news system on June 21. "With the arrival of new management and the completion of internal investigations, the balance sheet reservation was removed," says the bank, adding that there was no adjustment in the financial statements of the institution arising from the investigative process.
Source: GMB
