Banco Pan announced this Monday (8) that it had a net profit of R$ 194 million in the second quarter, down 4% compared to the same period last year.
The bank specializing in consumer credit ended June with a credit portfolio of R$36 billion, up 11% in 12 months.
Controlled by BTG Pactual, Pan received in March from the Central Bank (BC) the approval to conclude a capital increase for the acquisition of Mosaico, owner of price comparison sites such as Zoom and Buscapé, which should accelerate its digital operation focused on e-commerce.
Pan’s over 90-day delinquency ratio stood at 6.7% in the quarter, up from 5.4% a year earlier and 6.8% in the first quarter of 2022.
The bank said that the “stability” in the index compared to the first three months of the year is due to “the conservative stance in lending in recent months and our 88% collateralized portfolio,” according to the earnings report.
The managerial financial margin was 17.8%, compared to 20.5% in the same quarter of 2021, while the return on book equity of 11.9% represented a drop of 2.8 percentage points in the annual comparison.
Expenses with provision for losses from defaults totaled R$ 466 million in the period.
The amount had been R$ 285 million in the second quarter of last year and R$ 506 million in the first three months of this year.
Source: CNN Brasil
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