Banco do Brasil’s Q3 Profits Down 23.3 Percent as Default Reserves Grow Apace

The downtrend was once again pushed by the creations of provisions, or reserves against default, which rose 40.5 percent, to R$5.5 billion.

RIO DE JANEIRO, BRAZIL - Banco do Brasil's adjusted profit - which does not consider extraordinary items - has reached R$3.5 billion (US$700 million) in the third quarter this year, a drop of 23.3 percent compared to the same period in 2019. The downtrend was once again pushed by additional provisions, or reserves against default, which rose 40.5 percent, to R$5 . . .

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