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.
The bank attributed this surge in profits to multiple factors, notably the expansion of the credit portfolio crafted to mitigate potential default risks.
Banco do Brasil informed that the improvement in profits resulted from the growth of the credit portfolio with a composition that reduces the risk of default.
This is the fourth highest quarterly figure in the history of the Brazilian state-run oil giant. Its directors approved remuneration to shareholders of $0.65 per share.
In the first half of 2022, Petrobras paid BRL 179 billion to the public coffers - BRL 147 billion in taxes and government participation, and BRL 32 billion in dividends.
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