Caixa Econômica Federal recorded a recurring net profit of R$9.4 billion in the first nine months of 2024, an increase of 21.6% compared to last year. In the third quarter, the bank obtained R$3.3 billion, reinforcing its solid financial performance. In addition, it obtained more than R$18 billion in revenue from lotteries.
Assets and credit portfolio increase
In September 2024, Caixa’s total assets reached R$2 trillion, with growth of 13.9% compared to last year and 3.9% since June.
The credit portfolio also grew, totaling R$1.209 trillion, an increase of 10.8% compared to September 2023 and 3% compared to the previous quarter.
The sectors that stood out most in the growth of the credit portfolio were:
- Real estate sector – 14.7%
- Agribusiness – 13.8%
- Sanitation and infrastructure – 3.9%
These numbers highlight the diversification and resilience of Caixa’s loans in different segments of the economy.
The default rate for Caixa‘s credit portfolio was 2.27% in September 2024, a drop of 0.40 percentage points compared to last year. However, there was a slight increase of 0.07 points compared to the previous quarter.
Provision coverage reached 180.3%, with growth of 2.8 points compared to September 2023. But a drop of 15.1% compared to the last quarter.
Therefore, these results indicate that Caixa is managing its credit operations well. The bank maintains strict control over defaults and ensures solid coverage for potential losses.
Lotteries have a significant contribution
Caixa lotteries raised R$18.2 billion in the first nine months of 2024, an increase of 12% compared to last year. Of this amount, R$7.1 billion was directed to essential social programs such as:
- Social Security
- Sport
- Culture
- Public Security
- Education
- Health
Furthermore, in relation to net prizes, an impressive 6.3 billion reais were awarded to bettors during this period. Therefore, this not only shows the success of the lotteries, but also Caixa’s commitment to redistributing resources to society.
