Brazilian bank CAIXA has recurring net profit of US$ 2.1 B in 2023

CAIXA, the largest Brazilian bank in terms of number of customers, credit, digital accounts and savings deposits, announces its consolidated results for the fourth quarter of 2023 (4Q23). 

– Accounting Net Profit of R$11.7 billion in 2023, 20.0% higher than 2022;

– Accounting Net Profit of R$4.0 billion in 4Q23, 82.7% higher than 4Q22;

– Recurring Net Profit of R$10.6 billion in 2023, 15.5% higher than 2022;

– Recurring Net Profit of R$2.9 billion in 4Q23, 40.5% higher than 4Q22;

– The financial margin in 4Q23 reached R$17.5 billion, an increase of 17.1% compared to 4Q22;

– Service Provision Revenue totaling R$25.8 billion in 2023, growth of 2.8% in 12 months;

– Managed Assets totaled R$3.2 trillion in Dec/23, an increase of 11.5% in 12 months;

– CAIXA assets totaled R$1.8 trillion in Dec/23, an increase of 15.2% in 12 months;

– Total credit portfolio with a balance of R$1.120 trillion, growth of 10.6% over Dec/22, being the largest credit portfolio among banks;

– Balance of R$775.1 billion in the sustainable finance portfolio in Dec/23, growth of 15.6% in 12 months, a greater variation than the total credit portfolio, which grew 10.6% in 12 months;

– R$544.3 billion in total credit origination in 2023, growth of 6.8% compared to 2022, being the largest contracting in CAIXA’s history;

– R$140.6 billion in total credit origination in 4Q23, growth of 13.5% in 12 months;

– CAIXA accelerates and increases the rate of contracting of real estate credit in 2023, accounting for 69.6% of all credit granted in the market, an increase of 5.3 p.p. in 12 months;

– R$185.4 billion in real estate credit contracts in 2023, 13.0% higher than 2022, and the largest annual contract in the history of housing at CAIXA;

– R$48.5 billion in real estate credit contracts in 4Q23, 21.2% higher than 4Q22;

– R$110.2 billion in FGTS real estate credit contracts in 2023, growth of 56.2% compared to 2022;

– R$33.2 billion in FGTS real estate credit contracts in 4Q23, growth of 52.0% compared to 4Q22;

– In 2023, CAIXA financed 694.3 thousand properties, benefiting more than 2.7 million people with access to their own housing, generating more than 1.3 million jobs;

– Balance of R$733.3 billion in the real estate loan portfolio, 14.6% higher than Dec/22;

– CAIXA expands market share in Real Estate Credit to 67.3% in 2023, an increase of 1.1 p.p. in 12 months;

– R$15.4 billion in credit contracts for Infrastructure and Sanitation in 2023, growth of 91.0% in 12 months;

– R$1.6 billion in credit contracts for Infrastructure and Sanitation in 4Q23, growth of 349.4% compared to 4Q22;

– Balance of R$98.4 billion in Infrastructure and Sanitation credit, growth of 1.2% over Dec/22;

– Balance of R$ 103.2 billion in Consigned credit, stable in relation to Dec/22;

– Balance of R$56.2 billion in credit to Agribusiness, growth of 27.3% over Dec/22;

– Balance of R$97.4 billion in commercial credit for Legal Entities, growth of 3.8% over Dec/22;

– Balance of R$1.485 trillion in total funding, growth of 21.4% over Dec/22;

– Shareholders’ equity of R$128.5 billion, an increase of 4.8% in 12 months;

– Basel Ratio of 16.7% and Tier I Capital of 14.1% in Dec/23, higher by 5.2 p.p. and 4.6 p.p., respectively, than the regulatory minimum;

– Default rate of 2.16% in 4Q23, a reduction of 0.52 p.p. over 3Q23 and in line with 4Q22, the lowest rate among large banks;

– 93.4% of credits rated between AA-C and 92% of the balance with guarantees in Dec/23, demonstrating the quality of the portfolio;

– R$369.2 billion in social benefits paid in 2023, growth of 19.5% compared to 2022;

– R$159.8 billion in Bolsa Família benefits paid in 2023, growth of 43.4% compared to 2022;

– Renegotiation of R$12.7 billion in debt through the Desenrola Brasil Program, Tudo em Dia CAIXA and FIES, providing registration regularization and financial restructuring for 459.4 thousand customers.

– Programa Desenrola Brasil and Tudo em Dia CAIXA reach R$ 7.4 billion in debts renegotiated for 342.2 thousand customers and 437.5 thousand contracts regularized, and in relation to FIES, R$ 5.3 billion were renegotiated, benefiting 117, 2 thousand people;