Banco ABC Brasil S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 05:51 am EST
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Banco ABC Brasil S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was BRL 47.06 million compared to BRL 251.79 million a year ago. Net income was BRL 228.22 million compared to BRL 218.15 million a year ago. Basic earnings per share from continuing operations was BRL 1.03 compared to BRL 0.99 a year ago. Diluted earnings per share from continuing operations was BRL 1.02 compared to BRL 0.98 a year ago.
For the nine months, net interest income was BRL 1,257.84 million compared to BRL 1,272.6 million a year ago. Net income was BRL 620.12 million compared to BRL 602.96 million a year ago. Basic earnings per share from continuing operations was BRL 2.8 compared to BRL 2.74 a year ago. Diluted earnings per share from continuing operations was BRL 2.77 compared to BRL 2.71 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. 
