Banco Pan had net income of R$191 million in the third quarter, up 12% over the same period last year, but down 5% on a quarterly basis, according to data released this Wednesday.
The expanded credit portfolio ended the three months up to September with a balance of 33.262 billion reais, growth of 31% year on year, but only 3% compared to April to June.
Delinquency over 90 days rose from 5.4% to 5.8% in the comparison between the second and third quarters. Net loan provision expenses totaled 378 million reais, from 300 million a year earlier and 285 million in the second quarter.
The managerial net financial margin was 19.3% in the third quarter, from 20.5% in the same months of last year and in the second quarter, while the annualized return on average equity increased from 13.2% to 13.6% in year-to-year comparison. In the second quarter, it was 14.7%.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
