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Increased fees underline Banco do Brasil's 2019 profitability goals

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Increased fees underline Banco do Brasil's 2019 profitability goals

Banco do Brasil SA plans to raise revenue from fees and limit expenses as it looks to increase profitability in 2019, Reuters reported, citing Bernardo Rothe, the bank's chief financial officer.

Revenue diversification, especially with fees, will underline Banco do Brasil's strategy to increase profitability over the next few years given that it is less capital-extensive, Rothe said in an teleconference on the bank's third-quarter results.

Growth in credit margins would also be another important driver of income next year, Rothe noted. Prospects for increased lending margins are boosted by an expected expansion of credit operations this year due to the improving economy.

The bank expects the 90-day delinquency rate to fall further, driven by improved lending to large companies, the executive said.

Banco do Brasil's third-quarter net income came to 3.18 billion reais, up 11.8% year over year, as a large decrease in loan-loss allowances offset a decline in the bank's net interest income.

As of Nov. 9, US$1 was equivalent to 3.76 Brazilian reais.