Banco do Brasil achieves record profit of BRL 26.1 bi
Banco do Brasil has set a profit record for the first nine months of the year. From January to September, the financial institution recorded a net profit of BRL 26.1 billion, marking a 14 percent increase compared to the same period last year.The bank attributes this improvement in profits to the strong performance of its credit portfolio and investments in securities. Diversification of revenues, especially from services, and effective expense management have also contributed to this achievement.The loan portfolio, for instance, reached BRL 1.07 trillion by the end of September, marking a 10 percent increase compared to September 2022 and a 2 percent rise compared to the end of the second quarter.In the third quarter alone, the net profit amounted to BRL 8.8 billion, a 4.5 percent i...