Bradesco, Itaú, Santander and Banco do Brasil posted sharp profit growth in Q1

Market analysts remain cautiously optimistic about Brazil's largest publicly traded banks, which together posted a net profit of about R$21.84 billion, up 46.44% year-on-year in the first quarter.

RIO DE JANEIRO, BRAZIL - In terms of profit increases, the highlight was Bradesco (BBDC3; BBDC4), with a positive variation of 74%, followed by Itaú (ITUB4) with gains of almost 64%, followed by Banco do Brasil (BBAS3), with a 45% increase, while Santander (SANB11) posted the lowest profit increase, at 4%.

 

A recovery in profits after last year and a more positive estimate ahead with vaccination are guiding the positive sentiment of the market, yet concerns about default and increased competition are still on the radar.

Market analysts remain cautiously optimistic about Brazil's largest publicly traded banks, which together . . .

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