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Abrasca: Profits of major Brazilian banks increased 30% in 2015

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Abrasca: Profits of major Brazilian banks increased 30% in 2015

Brazil's 16 major listed banks posted total profits of 67.7billion Brazilian reais in 2015, up 30% from 2014, Diário Comércio Indústria & Serviços reported April 13, citingdata from Brazil's association of listed companies, Abrasca.

The best performance was obtained by , whichclosed 2015 with net income of 6.9 billion, 224.3% up year over year, followedby Banco Pan SA, witha 74% increase, and Banco BTGPactual SA, with a 70% rise.

Financial intermediation income from those banks came to336.6 billion reais last year, while total assets reached 3.7 trillion reais.

As of April 12, US$1was equivalent to 3.52 Brazilian reais.