The Caixa Econômica Federal Lotteries played a crucial role in the bank’s financial strengthening in the first half of 2024. With a collection of R$12.3 billion, there was a significant growth of 19% compared to the same period last year.
This substantial increase reinforces the importance of lotteries as one of Caixa‘s main sources of revenue. The contribution of lotteries was fundamental for the bank to record a recurring net profit of R$3.287 billion in the second quarter of 2024, representing a growth of 27.3% compared to the same period in 2023.
Application for license to operate sports betting
In addition to current performance, Caixa has ambitious plans for the future. The public bank, which holds the monopoly on lotteries in Brazil, is in the process of expanding its operations in the betting market
Caixa Loterias, a subsidiary of the bank, has already requested authorization from the Ministry of Finance to explore this segment, which is rapidly expanding.
With this move, Caixa aims to further capitalize on the public’s growing interest in betting. Thus, the bank’s objective is to guarantee new sources of revenue for the coming years.
Other Caixa numbers
Caixa Econômica Federal presented a recurring net profit of R$3.287 billion in the second quarter of 2024. Therefore, an increase of 27.3% compared to the same period last year.
Caixa’s credit portfolio reached R$1.175 trillion in June 2024, with emphasis on the housing loan portfolio, which grew 14.8%, totaling R$783.6 billion.
The institution’s financial margin was R$15.81 billion, an increase of 4.1% in one year, while revenues from banking services and fees totaled R$6.755 billion, a growth of 6.5%.
Administrative expenses totaled R$10.769 billion, an increase of 9.3% in one year, with personnel expenses totaling R$7.3 billion, 7.1% more than in 2023. The return on equity ( recurring ROE) reached 9.54%, with Caixa’s net equity (PL) totaling R$135.524 billion, an increase of 11.2%.
Defaults in the credit portfolio were 2.20%, a drop of 0.59 percentage points in one year, while defaults in housing loans were 1.55%, also falling. Provisions against default totaled R$4.399 billion, 7.4% lower than in the same period in 2023.
Caixa maintains leadership in the savings market in Brazil, with deposits totaling R$741.191 billion, a growth of 16.9% in one year.
About Caixa Lotteries
Caixa Lotteries offer various types of betting games in Brazil, such as Mega-Sena, Lotofácil and Quina. Operated by Caixa Econômica Federal, this sector raises funds for investments in social areas, such as education and sport.
