Federal Savings Bank, also known as CAIXA, has released its consolidated results for the second quarter of 2024. The largest Brazilian bank by number of clients, credit, digital accounts, and savings deposits, CAIXA reported some impressive highlights for the quarter:
1. Recurring Net Income grew by 36.6% to reach R$ 6.2 billion in the first half of 2024.
2. The Financial Margin increased by 6.9% to R$ 30.8 billion in the same period.
3. Revenues from Services saw a 6.7% growth to R$ 13.4 billion.
4. The Total Loan Portfolio reached R$ 1.175 trillion, showing a 10.6% increase.
5. CAIXA’s mortgage market share increased to 68.0% in the second quarter of 2024.
6. The bank originated R$ 302.1 billion in total loans in the first half of 2024, marking a 16.7% increase.
7. The Sustainable Finance Portfolio reached R$ 805.0 billion, up 14.5% in 12 months.
Additionally, CAIXA reported balances in various loan portfolios, including Agribusiness, Infrastructure, Payroll-deductible loans, and commercial loans for individuals, showing growth and market share improvements in different sectors.
Furthermore, the bank reported a balance of R$ 1.530 trillion in total funding, up 20.2% over the previous year, and a Basel Ratio of 16.4%, exceeding regulatory requirements. The Delinquency Rate decreased to 2.20% in the second quarter of 2024.
Investors can access the 2Q24 Earnings Release documents and a webcast scheduled for August 22, 2024, at 10:00 am (Brasilia) through links provided by CAIXA. For more information, visit the Federal Savings Bank Investor Relations website.
With a strong financial performance and growth across various segments, Federal Savings Bank continues to maintain its position as a leading financial institution in Brazil. Stay updated with the latest news and developments from CAIXA to make informed investment decisions.
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