Banco BTG Pactual recorded a quarterly accounting profit of R$2,622.5 million, which represents an increase of almost 20% compared to the same quarter of the previous year.
BTG Pactual has a significant focus on corporate operations , unlike other banks, such as Banco do Brasil, which has a more focused approach to the agro sector. This bank has maintained steady double-digit growth over the past few years, which is remarkable in a highly competitive industry. However, one concern is worth highlighting: the earnings multiples , also above double digits, mean that any slowdown in growth could negatively impact the share price . Therefore, my suggestion is that you stay alert and don't let the multiples distance themselves from the real growth of this excellent bank .
Banco BTG Pactual SA released its financial results for the quarter ended September 30, 2023, with the following highlights.
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Total Revenue: R$5,659.8 million.
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Adjusted Net Profit : R$2,734.3 million.
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Adjusted Net Profit per Unit: R$0.72.
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Annualized Adjusted Return on Average Shareholders' Equity (Annualized ROAE) in the quarter: 23.2%.
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Total Assets on September 30, 2023: R$496.4 billion, an increase of 4.6% compared to the previous quarter (June 30, 2023).
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Basel Index: Ended the quarter at 17.4%.
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Accounting Net Profit : Reached a quarterly record of R$2,622.5 million, representing an increase of 7.4% compared to 2Q23 and an increase of 19.9% compared to the same period of the previous year.
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Net Equity : Totaled R$47.8 billion, with an increase of 2.3% in relation to the previous quarter and an increase of 13.0% in the annual comparison, mainly due to the distribution of Interest on Equity (JCP) in the amount of R$1.53 billion.
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Liquidity Coverage Ratio (LCR): Ended the period at 196%.