BCO Estado do Rio Grande do Sul SA (BSP:BRSR5)
R$ 15.6 (0%) Market Cap: 4.61 Bil Enterprise Value: -4.38 Bil PE Ratio: 4.79 PB Ratio: 0.45 GF Score: 59/100
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Q3 2024 Banco do Estado do Rio Grande do Sul SA Earnings Call (English, Portuguese) Transcript

Nov 13, 2024 / 05:30 PM GMT
Release Date Price: R$17.94

Key Points

Positve
  • BCO Estado do Rio Grande do Sul SA (BSP:BRSR3) achieved a net income of BRL197 million this quarter, showing strong year-on-year growth.
  • The bank's net interest income remains on a path of annualized growth, reflecting the expansion of the portfolio.
  • Fees and services revenues grew at an annualized rate above inflation, covering 102.8% of personnel expenses.
  • The delinquency rate over 90 days decreased to 2%, which is lower than the previous quarter.
  • The bank successfully launched a new digital account, opening over 50,000 accounts, aligning with its strategy to expand the customer base.
Negative
  • The bank faced challenges due to major floods affecting the state's economy, impacting crop harvests and leading to delayed agricultural activities.
  • There was a negative impact on the net interest margin due to adjustments related to the floods, resulting in a decrease of almost 30 million in treasury.
  • The rural loan portfolio showed unexpected growth due to climatic events, which was not anticipated.
  • The bank's ROE, while reasonably good, could be better, indicating room for improvement in profitability.
  • There is a tight margin in the rural credit portfolio, which requires careful management to avoid defaults.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BRSR6.SA - Banco do Estado do Rio Grande do Sul SA
Q3 2024 Banco do Estado do Rio Grande do Sul SA Earnings Call (English, Portuguese)
Nov 13, 2024 / 05:30PM GMT

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