Banco ABC Brasil S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2022
February 08, 2023 at 04:44 am EST
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Banco ABC Brasil S.A. reported earnings results for the fourth quarter ended December 31, 2022. For the fourth quarter, the company reported net interest income was BRL 430.8 million compared to BRL 78.7 million a year ago. Net income was BRL 197.3 million compared to BRL 162 million a year ago.
Basic earnings per share from continuing operations was BRL 0.89 compared to BRL 0.74 a year ago.
Banco ABC Brasil SA is a Brazil-based institution (the Bank) engaged in the banking sector. Its commercial activities focuses on managing loans and other credit operations, deposit services and checking accounts to large and medium-sized corporate and institutional customers. In addition, the Bank is responsible for promoting capital market operations and other banking services. The Bank's financial products and services portfolio includes foreign and local currency loans, various types of guarantees, international trade financing, derivative operations, investments financing, as well as mergers and acquisitions (M&A) advisory, among others. The Bank operates through a network of branches in Brazil and abroad through an overseas branch located in Cayman Islands. Its subsidiaries include ABC Brasil Administracao e Participacoes Ltda and ABC Brasil Distribuidora de Titulos e Valores Mobiliarios SA. The Bank is indirectly controlled by Arab Banking Corporation BSC.
