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Brazilian midsize bank Sofisa pulled in 14.9mn reais (US$9.01mn) in fourth quarter earnings, up 71.1% from 4Q09 thanks to reduced loan loss provisions and lower sales of financial assets, the bank's latest financial statements show.
Sofisa saw its gross profit from financial intermediation jump 37.3% from 4Q09 to 55.1mn reais, as allowances for loan losses were cut by 39.9% to 23.4mn reais, while sales financial assets shrank 82.4% to 6.25mn reais.
Sofisa's loan portfolio saw a 10.6% decrease last year to 2.74bn reais, with corporate loans falling 0.19% to 1.85bn reais and the consumer loan portfolio shrinking 26.4% to 896mn reais.
The bank recorded a non-performing loan ratio of 1.5% at end-December, up from 1% at the end of 2009.
Sofisa had 4.37bn reais in assets and equity of 771mn reais at the end of last year.
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Brazilian national development bank BNDES more than tripled the loan disbursements issued by the World Bank in 2010. BNDES disbursements totaled US$96.3bn versus the US$28.9bn disbursed by the multilateral, news agency Agência Estado reported.
Between 2005 and 2010, BNDES' loan disbursements increased by 391%. The government expects the bank to disburse US$82.9bn in loans this year, in its effort to control inflation fears.
BCI has opened a "sustainable branch," the first of its kind in the Chilean banking industry, according to a press release from the bank.
With this branch, located in the Vitacura neighborhood of capital Santiago, the bank is seeking LEED-certification and also Passivhaus certification from Germany, the release reads.