CAIXA has already paid 52.3 million people, with R$49.9 billion credited as Emergency Aid
The Bank's recurring net income of R$3.0 billion in 1Q20, 7.5% lower than 1Q19 figure
BRASILIA, May 21, 2020 /PRNewswire/ -- CAIXA ECONÔMICA FEDERAL ("CAIXA" or "Bank"), the largest Brazilian bank in terms of number of clients, announces its consolidated results for the first quarter of 2020 (1Q20).
RESULTS HIGHLIGHTS (1Q20):
- CAIXA's recurring net income was R$3.0 billion in the 1Q20. The return on assets totaled 0.93%, 0.14 p.p. higher than 1Q19.
- The return on average shareholders' equity (ROE) was 14.4% in 1Q20, an increase of 2.0 pp in relation to 1Q19, due to the stability of the average shareholders' equity associated with the evolution of 20.8% in the recurring net income between those first quarters.
- R$49,9 billion already paid in Brazil's largest social inclusion program with R$37.1 billion paid to 52.3 million people in 1st distribution, and R$12.8 billion paid to 18.0 million people in 2nd distribution until May 21, 2020.
- R$1.9 billion paid to more than 2 million workers as Emergency Benefit.
- 63.0% reduction in the overdraft interest rates in 1Q20 (vs. 1Q19).
- Credit offering of more than R$154 billion to the economy.
- 81.9% growth in SBPE real estate credit contracts and 6.5% in FGTS contracting in 1Q20, compared to 1Q19.
- 30.7% growth in payroll loans in 1Q20, compared to 1Q19.
- 1Q20 delinquency rate of 3.14%, an increase of 0.68 p.p. compared to 1Q19.
- The Basel Ratio was 18.7%, reaching 7.7 p.p. above the required minimum of 11.0%. The principal capital ratio totaled 12.6%, while the Tier I index was 12.9%, remaining above the regulatory minimum of 8.0% for the principal capital, and 9.5% for the Tier I capital.
- The coverage ratio for administrative expenses was 76.1% in 1Q20, an increase of 2.9 p.p. in comparison to the 1Q19. The coverage ratio for personnel expenses reached 119.5%, 3.4 p.p. higher quarter-over-quarter.
1Q20 EARNINGS CALL AND WEBCAST: May 21, 2020, 12:00 p.m. (US EDT), Phone: +1 (412) 317-6346, Code: CAIXA and/or webcast on https://webcastlite.mziq.com/cover.html?webcastId=00f34c84-48d6-4bbf-9242-8371c406c62c
1Q20 DISCLOSURE DOCUMENTS: 1Q20 earnings release, presentation and full financials already available: http://www.caixa.gov.br/site/english/financial-information/Paginas/default.aspx
Contact: Investor Relations, [email protected]
About Caixa Econômica Federal (www.caixa.gov.br): CAIXA is the largest Brazilian bank in terms of number of clients, responsible for 38% of saving deposits in Brazil and 69% of housing loans.
SOURCE CAIXA ECONÔMICA FEDERAL
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