CAIXA's net income grows 66.7% in the third quarter

Net incomes in 3Q19 (R$8.0 billion) and 9M19 (R$16.2 billion) are records in CAIXA

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CAIXA ECONOMICA FEDERAL

Nov 12, 2019, 11:26 ET

BRASILIA, Brazil, Nov. 12, 2019 /PRNewswire/ -- CAIXA ECONÔMICA FEDERAL ("CAIXA" or "Bank"), the largest Brazilian bank in terms of number of clients, announces its consolidated results for the third quarter of 2019 (3Q19).

3Q19 FINANCIAL AND OPERATING HIGHLIGHTS:

  • Net Income of R$8.0 billion in 3Q19, up by 66.7% over 3Q18.

  • Recurring Net Income of R$4.2 billion in 3Q19.

  • Net Income of R$16.2 billion in 9M19, up by 40.9% over 9M18.

  • Historical reduction of 63% in overdraft interest rates in 2019, reaching the rate of 4.99%¹ per month.

  • Decrease of 22.9% in the interest rate on RR housing loans in 2019, with new rates starting at 6.75%² per year.

  • New IPCA indexed mortgage line, with rates starting at 2.95% per year + IPCA, representing a 40% lower installment in relation to TR indexed financing³.

  • Over R$26 billion in sale of assets in 2019.

  • Review of partnership (Life, Pension and Credit Insurance) totaling R$7.8 billion, up by 70% compared to November/2018.

  • 10 additional ongoing partnership negotiations, eight in the insurance segment and two in the card segment.

  • Over 1,000 new service points will be opened by March 2020, reaching all 5,570 municipalities in Brazil. Caixa is currently in 5,415 municipalities.

  • Hiring 2,800 new employees, mainly PwDs.

  • Over 43 million people have already received the immediate withdrawal of FGTS, totaling R$18.4 billion, largest payment in history.

¹ Effective from 01/12/2019

² Effective since 06/11/2019

³ Started Aug / 2019

3Q19 EARNINGS CALL AND WEBCAST: November 12, 2019, 11:30 a.m. (US EDT), Phone: +1 (412) 317-6346, Code: CAIXA and/or webcast on https://webcastlite.mziq.com/cover.html?webcastId=75fc03f7-45ed-4e34-8530-4529b29a2f5f

3Q19 DISCLOSURE DOCUMENTS: 3Q19 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 number of clients (101,8 million) and with 100,4 million debit cards. The Bank is responsible for 38,1% of national savings and 68,9% of housing loans.

SOURCE CAIXA ECONOMICA FEDERAL

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