State-Run Banco do Brasil Forecasts Profit Surge in 2023
São Paulo, Brazil – Banco do Brasil, Brazil's state-owned financial institution, anticipates a substantial increase in its adjusted net profit for the current year. The bank estimates earnings to range between 37 billion reais ($6.5 billion) and 41 billion reais ($7.2 billion). This projection exceeds the 39.2 billion reais consensus estimate from analysts polled by LSEG.
In its latest financial report, Banco do Brasil reported an adjusted net profit of 9.58 billion reais for the quarter ending December 31, 2022. This represents a 1.5% increase compared to the same period in the previous year and aligns closely with analysts' expectations of 9.53 billion reais.