Caixa's profit grows 50% in the first quarter, reaching R$ 4,6 billion.
Caixa Econômica Federal, the largest Brazilian bank in terms of number of customers, credit, digital accounts and savings deposits, announced this Wednesday (12) that it recorded a net accounting profit of R$ 4,6 billion in the first quarter, which represents a growth of 50,3% compared to the same period last year (R$ 3,049 billion). Compared to the 4th quarter of 2020 (R$ 5,671 billion), there was a decrease of 19,2%.
According to the bank, the quarterly result was supported by a 4,1% increase in the financial margin, a 17,1% reduction in personnel expenses, a 25,1% reduction in other administrative expenses, and "the receipt of R$ 1,5 billion obtained as a result of the completion of strategic partnerships in the consortium and capitalization sectors concluded with Caixa Seguridade."
Caixa's profit surpasses that of Banco do Brasil.
Compared to major publicly traded Brazilian banks, Caixa's profit in the first quarter surpassed that of Banco do Brasil (R$ 4,2 billion) and Santander (R$ 2,8 billion). The highest was Bradesco's (R$ 6,15 billion), followed by Itaú Unibanco (R$ 5,4 billion).
Lotteries raised R$ 3,8 billion in 2021.
CAIXA Lotteries raised R$ 3,8 billion in the first quarter. Of the funds raised during this period, approximately R$ 1,9 billion was transferred to Federal Government social programs in the areas of social security, sports, culture, public safety, education, and health.
In the first quarter, R$ 1,5 billion in net premiums were distributed, a value 14% higher than the same period in 2020.
Digital Platform – CAIXA Tem
Reaching a record of over 107 million digital social savings accounts opened by the end of March 2021, the CAIXA Tem app enabled the largest social, digital, and financial inclusion movement in Brazil, being used for the payment of all social benefits. The app has the lowest data consumption on the market and focuses on the basic income, social, and individual micro-entrepreneur (MEI) segments. Among its functionalities are the payment of bills and accounts, use of a virtual debit card, and QR Code for making purchases.
During the first quarter, 2,9 million users registered with a linked device on the CAIXA Tem App, and 607 million electronic and financial transactions were carried out.
