CAIXA's net income grows 66.7% in the third quarter
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PR Newswire
BRASILIA, Brazil, Nov. 12, 2019
BRASILIA, Brazil, Nov. 12, 2019 /PRNewswire/ -- CAIXA ECONÔMICA FEDERAL ("CAIXA" or "Bank"), the largest Brazilian bank in terms of number of clients, announces its consolidated results for the third quarter of 2019 (3Q19).
3Q19 FINANCIAL AND OPERATING HIGHLIGHTS:
- Net Income of R$8.0 billion in 3Q19, up by 66.7% over 3Q18.
- Recurring Net Income of R$4.2 billion in 3Q19.
- Net Income of R$16.2 billion in 9M19, up by 40.9% over 9M18.
- Reduction of 54.5% in overdraft interest rates in 2019, minimum rate of 4.99%¹.
- Decrease of 22.9% in RR Housing Loan fees, with the minimum fee at 6.75%².
- IPCA Housing Loan launched with a minimum rate of 2.95% + IPCA, installment down by 40%³.
- Over R$26 billion in sale of assets in 2019.
- Review of partnership (Life, Pension and Credit Insurance) totaling R$7.8 billion, up by 70% compared to Nov/2018.
- Addition of eight negotiations of partnerships in Insurances and two more ongoing negotiations in Cards.
- Over 1,000 new service points will be opened by March 2020, reaching all 5,570 municipalities in Brazil.
- Hiring 2,800 new employees, mainly PwDs.
- Over 41 million people have already received the immediate withdrawal of FGTS, totaling R$17.4 billion, largest payment in history.
¹ Effective from 01/12/2019 |
² Effective since 06/11/2019 |
³ Started Aug / 2019 |
3Q19 EARNINGS CALL AND WEBCAST: November 12, 2019, 11:30 a.m. (US EDT), Phone: +1 (412) 317-6346, Code: CAIXA and/or webcast on https://webcastlite.mziq.com/cover.html?webcastId=75fc03f7-45ed-4e34-8530-4529b29a2f5f
3Q19 DISCLOSURE DOCUMENTS: 3Q19 earnings release, presentation and full financials already available: http://www.caixa.gov.br/site/english/financial-information/Paginas/default.aspx
Contact: Investor Relations, [email protected]
About Caixa Econômica Federal (www.caixa.gov.br): CAIXA is the largest Brazilian bank in number of clients (101,8 million) and with 100,4 million debit cards. The Bank is responsible for 38,1% of national savings and 68,9% of housing loans.
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SOURCE CAIXA ECONOMICA FEDERAL
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