Caixa achieved net recurring income of R$ 1.9 billion in the first quarter | Economy

Caixa Econômica Federal has net recurring income of 1.9 billion Brazilian reals In the first quarter, a decrease of 23.9% compared to the same period in 2022, the bank reported on Thursday (11).

The total credit portfolio of the state-owned bank amounted to more than 1 trillion Brazilian reals In the quarter ending in March, an increase of 16.6% compared to the same period in 2022.

Financial margin increased by 30.4% to 13.9 billion Brazilian realsFocusing on increasing income from credit operations (41.6%) and issuance of derivative securities (38.8%).

Total loan portfolio revenue in the first quarter 29.3 billion Brazilian realsWith growth in the annual comparison of real estate credit for individuals, companies, sanitation, infrastructure and agribusiness.

The company said the default rate in the third quarter rose 0.4 percentage point in 12 months to 2.73% affected by a specific customer in the wastewater/infrastructure sector. Regardless of this customer the index will be 2.38%.

The total equity of Caixa 124.5 billion Brazilian realsan increase of 5.4% in 12 months.