With the release of the net result of Caixa Econômica Federal in the second quarter of 2018 of R $ 3.46 billion, the profits of the five largest banks in the country rose to R $ 41.6 billion in the first six months of the year. . The figure is already more than half of the total profit of the sector in 2017 (R $ 77.4 billion), which strengthens the chances of a new annual astronomical profit.
The amount collected by Itaú Unibanco, Bradesco, Caixa, Banco do Brasil and Santander, free of taxes, for a semester in 2018 is close to the investment of the Union in education (R $ 44.5 billion). In addition to the tight bank distribution, the performance of these companies is largely due to the strategy of favoring profitable loans to private individuals at the expense of the credit offered to companies. Contributions to these figures are also service costs, which are increasingly weighed on the banks' balance sheets, despite the increasing digitization of transactions.
The performance was also driven by the reduction of bank defaults. For all five banks, the results in the second quarter were greater than the provision for provisions for doubtful debts. Checked in the results of listed banks in the first quarter, the performance now extends to Caixa, which has no shares on the stock market.
In the case of the public bank, the data show that the default rate was 2.50%, 0.4 percentage point lower than in the first quarter, but remained stable compared to the first half of 2017, market average of 3.06%.
In addition, the costs of large banks with bad debts, excluding credit recovery, amounted to R $ 20.3 billion in the second quarter, a decrease of 22.3% in 12 months. Compared to the previous three months, the figure has shrunk by around R $ 800 million.
In the first half, Caixa Econômica achieved a record net profit of R $ 6.65 billion, an increase of 63.3% over the same period last year. In the first part of the year the performance of Caixa is higher than that of the largest public bank in the country, Banco do Brasil, whose profit so far amounted to R $ 6.26 billion.
The bank's loan portfolio under the broad criterion was R $ 695.32 billion in the second quarter, a decrease of 0.7% from the first, when the balance amounted to R $ 700.19 billion. In one year, from R $ 715.88 billion, it shrank 2.9%.
According to the bank, this movement was influenced by the business segment, with loans on the same basis of comparison declining by 25.7% as a result of the movement of private banks. On the other hand, the housing modality has been increased by 3.6%. In this sector, the bank is the market leader with approximately 70% of the market.
With the increase, the property portfolio of Caixa R reached $ 436.5 billion. This result was impacted by operations with funds from the Time of Service (FGTS) Guarantee Fund, which reached R $ 250.9 billion, an increase of 13.0% in 12 months. The transactions with funds from Caixa – SBPE – amounted to R $ 185.6 billion and represented 42.5% of the portfolio with home loans.
According to Arno Meyer, vice president of Finance and Controllership, the new phase of the Caixa Econômica Federal is based on a generation of results that is in line with the bank's ambition to expand its loan portfolio and at the same time implement a social credit policy. " dictated policy had to build up a capital base so that Caixa's ambition is sustainable over time ", he told a press conference at the Sao Paulo bank office. Meyer said that from the second half of the year the bank will adopt a timetable for the dissemination of results in accordance with listed companies and the best management practices of the bank. The measure already approved by the Bank's Board also includes the publication of relevant facts, according to him.