Compared to the previous quarter, the loan portfolio grew by 11.5% in 2019, to R$ 43.8 billion.
Banco BTG Pactual, the largest investment bank in Latin America, announced last Friday (the 14th) a jump of 42% in net income for the 4th quarter of 2019.
Recurring net income reached R1TP4Q 1.01 billion, in line with analyst expectations. With revenues rising 61% year-on-year to R$ 2.486 billion.
Year-to-date (2019), adjusted net income was R1TP4Q 3.833 billion.
Dealing desk gains in the Investment Banking, Corporate Lending and Proprietary Investing division offset a 21% increase in operating expenses. Important: including employee bonuses.
Roberto Sallouti, president of Banco BTG Pactual, emphasized that the prospects for 2019 were confirmed by the consistent results obtained.
He also reinforced that the investment bank is the largest in Latin America and that he is confident for 2020. The year, he says, will be “focused on excellence in customer service, in addition to consistent investments in innovation to maintain the solid growth of all the 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 11.5%, 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%, subtly below the level seen in the previous quarter.
Now, BTG's main efforts are admittedly focused on expanding the digital investment platform for clients, called BTG Pactual Digital. The bank expects to become the sixth largest retail bank in Brazil by number of customers.
