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Brazilian bank Banrisul, controlled by the state government of Rio Grande do Sul, posted net income of 648mn reais (US$384mn) in January-November 2010, up 40.8% from the same period in 2009, on higher credit revenues, the bank said in a press release.
Banrisul increased ROAA and ROAE to 2.3% and 19.5% during the 11 months, from 1.8% and 15.6% during the year-ago period, respectively.
The bank increased its loan book by 28.6% to 16.9bn reais in the 12 months to end-November, driven mostly by retail lending, which was up 38.6% to 7.5bn reais.
The 60-day non-performing loan (NPL) ratio fell to 2.9% from 3.7% at end-November 2009 and 3% at end-3Q10.
Banrisul had 32.6bn reais in assets and equity of 3.88bn reais at end-November.
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