BTG Pactual on Monday released adjusted net income of 2.26 billion reais for the first quarter, in line with market expectations, with total revenues advancing double-digits year-on-year.
The result represents a 10% increase over the same period a year earlier, the bank said. Analysts had a median profit forecast of 2.22 billion reais, according to data from Refinitiv.
Latin America’s largest investment bank, BTG Pactual celebrated “record revenues across most lines of business” despite what it categorized as a challenging environment in the credit and capital markets.
The bank’s total revenues came in at 4.8 billion reais in the period, up 10% year-on-year and slightly above the market consensus of 4.74 billion reais.
BTG Pactual’s annualized adjusted return on average capital (annualized ROAE), a widely observed profitability metric, reached 20.9%, compared with 21.5% in the prior year period and an expectation of 20.1 %. BTG has previously said it plans to keep this metric above 20% for the long term.
Source: Terra
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