Banco ABC Brasil S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 04, 2021 at 05:53 am EDT
Share
Banco ABC Brasil S.A. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net interest loss was BRL 247.84 million compared to net interest income of BRL 32.96 million a year ago. Net income was BRL 151.46 million compared to BRL 73.48 million a year ago. Basic earnings per share from continuing operations was BRL 0.69 compared to BRL 0.34 a year ago. Diluted earnings per share from continuing operations was BRL 0.69 compared to BRL 0.34 a year ago.
For the nine months, net interest income was BRL 476.28 million compared to net interest loss of BRL 952.01 million a year ago. Net income was BRL 410.21 million compared to BRL 216.09 million a year ago. Basic earnings per share from continuing operations was BRL 1.88 compared to BRL 1.01 a year ago. Diluted earnings per share from continuing operations was BRL 1.86 compared to BRL 0.99 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.
BANCO ABC BRASIL S.A. 
