BV has a recurring profit of BRL 279 million; A 34% drop in Americana’s shadow
Banco BV (formerly Votorantim) ended the fourth quarter of 2022 with recurring net income of BRL 279 million, a decline of 33.8%.
Banco BV (formerly Votorantim) ended the fourth quarter of 2022 with a recurring net income of BRL 279 million, down 33.8% compared to the same period in 2021, according to the balance sheet published this Wednesday, 8. technology and also a special provision for the wholesale segment, a move seen in other banks that suggests that the customer in question is Americanas.
The bank is one of the creditors of the company, which went into receivership in January with a BRL 206 million loan that is being contested in court. The case-specific provision, which does not name the customer, caused the bank to report a return on equity (ROE) of 9% in the quarter, down 5.5 percentage points year-on-year.
BV CEO Gabriel Ferreira did not name the client or say what portion of the loan was disbursed to Broadcast. He noted, however, that BV was backed by deposits that he used to pay off the company’s debt.
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