Banco do Brasil's net profit down 44% in 2016

The default rate was 3.29%, smaller than the market level

Published in 16/02/2017 - 12:22 By Agência Brasil - São Paulo

Brasília - O Banco do Brasil vai fechar agências bancárias, ampliar o atendimento digital, lançar um plano de aposentadoria incentivada e propor redução de jornada de trabalho para parte dos funcionários (Marcelo

Banco do Brasil has closed down 217 of the 402 branches it has planned to close by next March.Marcelo Camargo/Agência Brasil

Banco do Brasil SA (Bank of Brazil) posted net profits of $2.6 billion in 2016, 44.2% down from 2015.

The results from the fourth quarter 2016 shrank 61.6% to $312.8 million, from $729 million in the fourth quarter 2015, according to a statement from the bank on Thursday (Feb. 16).

Earnings per share reached $0.92 in 2016, compared to $1.64 in the previous year. External analysts expect this year's earnings per share to stand at $1.31. Shareholder payout totalled $92.5 million in the fourth quarter and a cumulative $779.7 million in the year.

The state-owned bank noted that managing costs increased 3.5% over 12 months, the lowest annual increase in ten years, below the inflation indicators for the period.

The default rate was 3.29%, below the market level (3.7%).

Reorganization

Banco do Brasil has closed down 217 of the 402 branches it has planned to close by next March. The downsizing of its physical service capabilities is part of a reorganization plan announced by the bank last November.

Also as part of the plan, 379 branches will be converted into smaller units known as “service centers” (postos de atendimento), and 31 regional superintendencies will be shut. The downsizing is expected to save the bank $243.6 million, a saving the bank is planning to invest on expanding and improving its digital services, among other purposes.


Translated by Mayra Borges


Fonte: Banco do Brasil's net profit down 44% in 2016

Edition: Nira Foster

Dê sua opinião sobre a qualidade do conteúdo que você acessou.

Para registrar sua opinião, copie o link ou o título do conteúdo e clique na barra de manifestação.

Você será direcionado para o "Fale com a Ouvidoria" da EBC e poderá nos ajudar a melhorar nossos serviços, sugerindo, denunciando, reclamando, solicitando e, também, elogiando.

Denúncia Reclamação Elogio Sugestão Solicitação Simplifique
Latest news