Banco do Brasil's net income rises 16.1% in Q2

16:28, August 17, 2010      

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Brazil's largest state-owned bank Banco do Brasil reported on Monday its net income increased 16.1 percent to 2.7 billion reais (1.54 billion U.S. dollars) in the second quarter of 2010.

The bank's adjusted net income reached 2.33 billion reais (1.31 billion U.S. dollars) in the second quarter of 2010, up from 1.73 billion reais in the same quarter of 2009.

Total assets amounted to 755.7 billion reais (431.82 billion U.S. dollars) by the end of June, up 26.2 percent from the same period last year.

Banco do Brasil's loan portfolio reached 349.8 billion reais (199.88 billion U.S. dollars) in the second quarter, up 41.1 percent compared to the same period in 2009. Its total assets rose 26.2 percent to 755.7 billion reais (1.32 billion U.S. dollars).

Financing operations to citizens increased 47.7 percent to 101.1 billion reais (57.77 billion U.S. dollars) from a year earlier, which accounted for 31 percent of the Bank's portfolio.

The bank's corporate financing operations rose 31.2 percent to 135.6 billion reais (77.48 billion U.S. dollars), while housing credit operations reached 2.1 billion reais (1.2 billion U.S. dollars), up 84.9 percent from a year earlier.

The average default rate, defined as a delay in payment of more than 90 days, fell to 2.7 percent from 3.3 percent in the second quarter of 2009.

Source:Xinhua

(Editor:黄蓓蓓)

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