Banrisul ups Q3 profits 15.9% on strong loan growth

Monday, November 7, 2011

Banrisul, the state bank of Brazil's Rio Grande do Sul, saw third quarter earnings rise 15.9% to 239mn reais (US$137mn) compared to the year-ago period, the bank said in an earnings release.

The bank's ROE for 3Q11 was 24.7%, compared to 24.5% in 3Q10.

Banrisul's loan book expanded 21.1% in the year through September, to 19.7bn reais.

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The bank's non-performing loan ratio improved to 2.9% at end-September from 3.0% at the same time last year.