The Banco of Brasília (BRB) ended 2021 with a profit of R$608 billion, representing a 35.2% growth from the net results recorded a year before and reaching its best result ever.

In a statement, the banks explains that “the result reflects BRB’s expansionary strategy throughout the national territory, with an increase in its range of products and services and a diversification of its customer base”.

In 2021, the annualized return on average equity was 26.6%, above the market average. Revenues from services rendered increased by 15%.

“Even in an adverse context, marked by the worsening of the Covid-19 pandemic, BRB continued to act on the front line in the execution of public policies and granting credit to those who needed it most”, BRB’s president, Paulo Henrique Costa, says.

The bank ended 2021 with a costumer base of 3.5 million, compared with the 639,000 costumers from December 2018. Recently, in February 2022, the bank had already broke the 4 million costumer mark.

Its credit portfolio reached R$ 21.8 billion by the end of the Q4 2021, in an increase of 34.4% compared to the same period of 2020 and of 5.2% from the previous quarter.. The main highlight was real estate credit, whose balance reached R$ 4.5 billion, showing an annual growth of 81.9%. 

It’s nonperforming loans (NPL) rate stood at 2.47% by the end of the second semester of 2021, increasing by 0.79 percentage points from December 2020, due to an increase in operations with higher level of risk amid the bank’s credit portfolio.

Original Story: BRB|Press
Photo: Banco de Brasilia Facebook
Translation and Edition: Prime Yield