Compared to the previous quarter, the credit portfolio grew by 11.5% in 2019, to R$43.8 billion.
Banco BTG Pactual, the largest investment bank in Latin America, reported last Friday (the 14th) a jump of 42% in net income for the 4th quarter of 2019.
Recurring net income reached R$1.01 billion, in line with analyst expectations, with revenues rising by R$611 billion year-on-year to R$2.486 billion.
In the accumulated total for last year (2019), adjusted net income was R$3.833 billion.
Gains on the trading desk, in the investment banking, corporate lending and proprietary investments division, offset a 21% increase in operating expenses. Important: including employee bonuses.
Roberto Sallouti, president of Banco BTG Pactual, highlighted that the outlook for 2019 was confirmed by the consistent results obtained.
He also reinforced that the investment bank is the largest in Latin America and that he is confident about 2020. The year, he says, will be one of “focus on excellence in service to our clients, in addition to consistent investments in innovation to maintain solid growth in all areas.”
With growth of 7.5% in the quarter and 31.6% in the year, assets under management and administration reached R$$ 273 billion,
Compared to the previous quarter, the bank continued to expand its loan portfolio to R$43.8 billion, with growth of R$11.51 billion, helped by loans outside Brazil and to small companies.
In November, BTG said it planned more loans in Colombia and Chile.
The bank also reported an annualized return on equity, a measure of profitability, of 19.1%, slightly below the level seen in the previous quarter.
Now, BTG’s main efforts are admittedly focused on expanding its digital investment platform for clients, called BTG Pactual Digital. The bank hopes to become Brazil’s sixth-largest retail bank by number of clients.