The bank attributes this improvement to the strong performance of its credit portfolio and investments in securities, as well as to an effective expense management.
Certified by Verra, the leading assessor in the voluntary carbon market, the Envira Project contributes to forest conservation and reduction in deforestation.
The announcement was made in New York this week by Banco do Brasil in partnership with the Inter-American Development Bank and adds to the Amazon Impact Movement, signed during the UN Global Compact in Brazil.
The bank attributed this surge in profits to multiple factors, notably the expansion of the credit portfolio crafted to mitigate potential default risks.
The increase in profit can be explained by the growth in credit concession with controlled defaults and to the diversification of revenues and cost management discipline.
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