Banco ABC Brasil S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 04, 2022 at 06:50 am EDT
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Banco ABC Brasil S.A. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was BRL 251.79 million compared to net interest loss of BRL 215.07 million a year ago. Net income was BRL 218.15 million compared to BRL 151.46 million a year ago. Basic earnings per share from continuing operations was BRL 0.99 compared to BRL 0.69 a year ago. Diluted earnings per share from continuing operations was BRL 0.98 compared to BRL 0.68 a year ago.
For the nine months, net interest income was BRL 1,272.6 million compared to BRL 526.29 million a year ago. Net income was BRL 602.96 million compared to BRL 410.21 million a year ago. Basic earnings per share from continuing operations was BRL 2.74 compared to BRL 1.88 a year ago. Diluted earnings per share from continuing operations was BRL 2.71 compared to BRL 1.86 a year ago.
Banco ABC Brasil SA is a Brazil-based institution (the Bank) engaged in the banking sector. Its commercial activities focuses on managing loans and other credit operations, deposit services and checking accounts to large and medium-sized corporate and institutional customers. In addition, the Bank is responsible for promoting capital market operations and other banking services. The Bank's financial products and services portfolio includes foreign and local currency loans, various types of guarantees, international trade financing, derivative operations, investments financing, as well as mergers and acquisitions (M&A) advisory, among others. The Bank operates through a network of branches in Brazil and abroad through an overseas branch located in Cayman Islands. Its subsidiaries include ABC Brasil Administracao e Participacoes Ltda and ABC Brasil Distribuidora de Titulos e Valores Mobiliarios SA. The Bank is indirectly controlled by Arab Banking Corporation BSC.
BANCO ABC BRASIL S.A. 
