BCSul sees Q2 profits up 13.8% on strong loan growth

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Tuesday, August 16, 2011

Banco Cruzeiro do Sul (BCSul) saw 2Q11 earnings rise 13.8% year-on-year thanks to strong loan growth, according to the Brazilian bank's latest earnings release.

Quarterly net income was 40.5mn reais (US$25.5mn) and first half earnings came in at 81.5mn reais, up 8.3% on 1H10.

The bank's lending is focused on payroll and retirement-linked loans and this portfolio climbed by 41.5% to 7.07bn reais in the year through June.

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BCSul finished 1H11 with a capital adequacy ratio of 18.3% compared to 15.4% at the end of June 2010.

To read the full earnings release in English, go to this link

To read the release in Portuguese, go to this link