Banco do Brasil profits surge by 32.1%, hit R$17.8 billion in 2019

Banco do Brasil headquarters in Brasilia

Banco do Brasil headquarters in Brasilia

  |  Adriano Machado/Reuters

The bank's profits In the fourth quarter hit R$4.6 billion.

Banco do Brasil's net profits hit 17.8 billion in 2019, a 32.1% increase over the previous year. In the fourth quarter, profits amounted to R$4.6 billion. These results match the bank's forecast for the year, which predicted growth ranging between R$16.5 billion and R$18.5 billion.

The bank had revised its guidance (earnings forecast) for 2019 in the third quarter. The results reflect a 12.3% increase in net interest margin (revenue from credit operations), which hit R$40.1 billion in 2019.

Read more in Folha de S. Paulo

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