05/02/2024 – 9:07
BTG Pactual recorded an adjusted net profit of R$10.4 billion in 2023, which represents an increase of 25% compared to the previous year, according to data released by the bank this Monday morning, the 5th.
+BTG Pactual buys Órama Investimentos for R$500 million
The record result comes after strong growth in the fourth quarter of last year. Between the months of October and December 2023, BTG Pactual obtained a net profit of R$2.7 billion, which represents an increase of 65.9% compared to the same period in 2022.
Compared to the third quarter, net profit rose 3.8%. Adjusted net profit was R$2.8 billion, up 61% year-on-year and 3.7% compared to the previous quarter.
The bank's total revenues totaled R$5.6 billion in the fourth quarter of last year. The result represents an increase of 56% compared to the same period in 2022, when the impact of a non-recurring provision was recognized. Throughout 2023, BTG Pactual's revenue exceeded R$21.6 billion, an increase of 25.6% compared to 2022.
“In a challenging year in the credit and capital markets, we were able to deliver a record performance, with significant expansion of our client franchises. We continue to obtain operational leverage on our platform, while strengthening our customer-centric culture.”, said the CEO of BTG Pactual, Roberto Sallouti, in the release released by the bank.
Adjusted return on equity (ROAE) was 23.4% in the fourth quarter of 2023, compared to 16.7% in the fourth quarter of 2022. In the third quarter of 2023, ROAE was 23.2%. In the year 2023, ROAE rose to 22.7%, from 20.8% in 2022.
BTG Pactual's net worth rose to R$49.4 billion at the end of 2023, from R$42.4 billion at the end of 2022.
The Basel index rose to 17.5% at the end of the fourth quarter of 2023, from 15.1% in the same period of 2022.
Total assets under the bank's management and administration reached R$1.6 trillion at the end of the fourth quarter of 2023, an increase of 25% on an annual basis.
The net inflow of resources (net new Money) reached R$41 billion in the fourth quarter of 2023, while in the year, inflows totaled R$205 billion.
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