Banco do Brasil Posts FY2024 Adjusted Net Income of BRL 37.9 Billion, Delivers on 2024 Guidance

Banco do Brasil reported full-year 2024 adjusted net income of BRL 37.9 billion, a 6.6 per cent increase on the prior year, with a return on equity of 21.4 per cent. The bank delivered on the guidance it had set for the financial year.

LOAN BOOK AND REVENUES GROW

Banco do Brasil's expanded loan portfolio grew 15.3 per cent year-on-year to BRL 1.3 trillion, while the organic portfolio, the measure used in its guidance, grew 11.7 per cent to BRL 1.278 trillion, within the 8–12 per cent range the bank had projected. Net interest income reached BRL 103.9 billion, an increase of 11.2 per cent.

Fee income rose 4.9 per cent to BRL 35.5 billion.

AGRIBUSINESS AND COSTS

Banco do Brasil's agribusiness portfolio grew approximately 12 per cent over the course of 2024 to BRL 397.7 billion by December 2024.

Administrative expenses rose 4.4 per cent year-on-year to about BRL 37 billion, below inflation. The Brazilian federal government holds a controlling stake in the bank.