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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To read the full statements in Portuguese, go to this link
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.