Brazil Banco do Brasil profit plunges 53.5% to $670M

Banco do Brasil reported an adjusted net income of R$ 3.43 billion for the first quarter of 2026, a drop of 53.5% compared to the same period in 2025. The results were released on Wednesday, May 13.

The bank’s return on equity (ROE) fell by 9.4 percentage points, ending the first quarter of 2026 at 7.3%.

The expanded loan portfolio grew by 2.2% year-over-year and by 0.7% compared to the previous quarter, reaching a total of R$ 1.3 trillion.

In the first quarter, the default rate for loans overdue by more than 90 days rose by 1.41 percentage points compared to the same quarter in 2025. However, it decreased by 0.12 percentage points from the previous quarter, settling at 5.05%.

Revenue from services at Banco do Brasil increased by 5.5% during the period, totaling R$ 8.8 billion.

Administrative expenses rose by 5.5% year-over-year, reaching R$ 10 billion.

The bank also revised its financial projections for the full year. It previously forecast adjusted net income between R$ 22 billion and R$ 26 billion. The new estimate is for a profit between R$ 18 billion and R$ 22 billion.